A New Structure for U.S. Federal Debt

Sunday, November 1, 2015

Working Group On Economic Policy: WP15108


This paper proposes a new structure for U.S. Federal debt. It argues that all debt should be perpetual, paying coupons forever with no principal payment. The paper introduces six financing options and argues for their creation in order to protect against future fiscal or monetary shocks.

DOWNLOAD: A New Structure for US Federal Debt.pdf