‘A downgrade in confidence’

Denison Trustee Lee Sachs ’85 has an idea or two about economic policy. The co-founder and CEO of the financial services firm Alliance Partners and a former assistant U.S. Treasury secretary, he is often looked to for insights and understanding.

Earlier this week, while the deficit-reduction supercommittee approached its impasse on an agreement, Bloomberg Television’s Inside Track talked to Sachs about the resulting impacts on the U.S. taxpayer. As Sachs explains, “One of the central lessons of fiscal crises is: The earlier you act, the easier it is. The longer it takes, the more expensive it gets, the larger the numbers get, and the greater the sacrifices that politicians are going to have to ask the people to make.”