As former United States Deputy Secretary of the Treasury Frank Newman argued in a recent book, Freedom from National Debt, a country’s capacity for fiscal intervention is better assessed by examining its aggregate balance sheet than by the traditional method of comparing its debt (a liability) to its GDP (a flow).
Como señala el ex subsecretario del Tesoro de los Estados Unidos, Frank Newman, en un libro reciente titulado Freedom from National Debt [Liberarse de la deuda nacional], para determinar la capacidad de intervención fiscal de un país es mejor examinar su estado de balance general que usar el método tradicional de comparar su deuda (un pasivo) con su PIB (un flujo).