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The Long Slog of Paring Debt

"The U.S. went on a borrowing binge in the 2000s and is now in the deleveraging phase. To borrow a metaphor from Federal Reserve Chairman Ben Bernanke, this is creating "formidable headwinds" that are blowing against the economy's natural momentum and fiscal and monetary policies aimed at propelling it."

Read the full story at The Wall Street Journal