To put that in plain English, we were borrowing money we didn't have to spend on stuff we couldn't afford.
This borrowing makes its risk-taking more profitable, thus the $20 billion bonus pool that being amassed with a taxpayer subsidy.
That borrowing is relatively short term borrowing, with most of the debt falling due within five years.
Once inflation rises and the Fed is forced to tighten, borrowing costs for both the government and private sectors will rise.
We need to talk more honestly about the way our epidemic of borrowing weakens our power overseas.
We have given Mr. Hale's opinion as to the improbability of borrowing.
He did not want the source of this borrowing power to become known as yet.
Fig. 26 represents a chair which I have taken the liberty of borrowing from Mr. Eastlake's work on household art.
Such a situation as one kitchen not borrowing from another was incomprehensible.
Here in New York they have been pyramiding stocks, borrowing money from two trust companies which they control.
Old English borgian "to lend, be surety for," from Proto-Germanic *borg "pledge" (cf. Old English borg "pledge, security, bail, debt," Old Norse borga "to become bail for, guarantee," Middle Dutch borghen "to protect, guarantee," Old High German boragen "to beware of," German borgen "to borrow; to lend"), from PIE *bhergh- "to hide, protect" (see bury). Sense shifted in Old English to "borrow," apparently on the notion of collateral deposited as security for something borrowed. Related: Borrowed; borrowing.