@techreport{NBERw2061,
 title = "Debt Problems and Macroeconomic Policies",
 author = "Lawrence H. Summers",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "2061",
 year = "1986",
 month = "October",
 URL = "http://www.nber.org/papers/w2061",
 abstract = {This paper examines the recent dramatic increase in the ratio of US non-financial debt to GNP. It concludes that it is largely the result of federal budget deficits. There does not appear to have been a major change in traditional patterns of private sector borrowing in recent years. The excessive accumulation of Federal debt probably threatens financial stability more than recent increases in private debt.},
}