Americans finance everything from casual dinners to major wars. Our standard of living improves, businesses expand, and government becomes more potent because of large amounts of available credit. Conversely, last year, consumer borrowing resulted in more than 1.5 million personal bankruptcies. Business bankruptcies were so high that the fallout is not yet calculable. For what purposes are personal, business, and government borrowing reasonable? How does government borrowing influence our financial activities? Who are the creditors holding U.S. debt? Can the U.S. government become bankrupt? Is debt the correct tool for improving our long-term economic and emotional quality of life? Are there alternatives to debt?

Panelists: Heidi Hartmann, economist, Director of the Institution for Women's Policy Research; Jeffrey Madrick, fellow of the World Policy Institute and editor, Challenge magazine; Deirdre McCloskey, Distinguished Professor of Economics, History, and English at the University of Illinois; and David Skeet Jr., Professor of Law, University of Pennsylvania Law School. Martin Fisher, writer and producer of the documentary On Borrowed Money, moderates. Presented by the Wolfson Center for National Affairs.

Inscription: American Debt Ad Spec. Programs / 11/3/03 / Orig. / 1/1.