The August 29th New York Times Week in Review featured an article entitled, “Policy Options Dwindle as Economic Fear Grows,” by Peter S. Goodman. As Goodman recounts the drumbeat of bad economic data released in recent days and the obstacles to using traditional “stimulus,” he offers this explanation for why Congress is reluctant to add more to the national debt:

The dramatic expansion of the national debt — which began in the Bush administration, via hefty tax cuts and two wars — has ratcheted up fears that, one day, creditors like China and Japan might demand sharply

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