Dealing with America's Debt Overhang

Second Bernard L. Schwartz Economic Symposium

The bursting of the housing and credit bubbles has left the United States with a huge debt overhang.  As a result of the buildup of private sector debt and the economic crisis, households and firms are finding it difficult to service debt and lay a foundation for a sustainable recovery. 

New America Foundation's Economic Growth Program hosted leading economists and public intellectuals to discuss the following questions:

• Can we grow our way out of debt without setting off inflation? 

• How can households reduce their debt levels without killing off demand? 

• Does the debt pose a threat to the dollar?

Below, you will find several power point presentations, the agenda, and videos for each panel discussion.

You can also follow this symposium on Twitter.

 Panelists' Presentations

You can access the panelists' presentations from the symposium by clicking on the links below.

Thomas Palley Presentation- Budget Deficit Hysteria

Sherle Schwenninger Presentation- Debt Overhang

Carmen Reinhart- Fiscal Consequences

Agenda

Registration & Coffee

Introductory Remarks

• Bernard L. Schwartz
  CEO, BLS Investments, LLC
• Steve Coll
  President, New America Foundation

Session 1:  How serious is the debt overhang, what does it mean, and can we grow our way out of it?

• James K. Galbraith
  Lloyd M. Bentsen Junior Chair in Government-Business Relations
  Professor of Government, University of Texas
• Thomas Palley
  Schwartz Economic Growth Fellow, New America Foundation
  Former Chief Economist, China Economic and Security Review Commission
• Carmen Reinhart
  Professor of Economics at the School of Public Policy and the Department of Economics, University of Maryland
• Sherle R. Schwenninger
  Director, Economic Growth Program, New America Foundation
• moderator
  Steve Clemons
  Director, American Strategy Program, New America Foundation

Session 2:  Alternatives to Austerity:  Growth, Debt Relief or Reflation

• Liaquat Ahamed
  Author, "Lords of Finance: The Bankers Who Broke the World"
• Jim Jubak
  Columnist, MSN Money
• Chris Hayes
  Washington, DC Editor, The Nation
  Fellow, New America Foundation
• Rob Johnson
  Director of the Economic Policy Initiative, Franklin and Eleanor Roosevelt Institute
  Former Managing Director, Soros Fund Management
• Michael Lind
  Policy Director, Economic Growth Program, New America Foundation
• moderator
  Sherle R. Schwenninger
  Director, Economic Growth Program, New America Foundation

Session 3:  America's Debt, the Dollar, and the Global Economy

• Jörg Bibow
  Professor of Economics, Skidmore College, and Research Scholar, Levy Institute
• Zachary Karabell
  President, River Twice Research
  CNBC Contributor
• Douglas Rediker
  Director, Global Strategic Finance Initiative, New America Foundation
• Arvind Subramanian
  Senior Fellow, Peterson Institute and Center for Global Development
  Senior Research Professor, Johns Hopkins University
• moderator
  Steve Clemons
  Director, American Strategy Program, New America Foundation