November 22, 2010 8:39AM 

# Jerry L. Jordan: We Have Replaced Household Debt with Government Debt 

By [Caleb O. Brown](https://www.cato.org/people/caleb-o-brown) 

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Jerry L. Jordan, the former president of the Federal Reserve Bank of Cleveland, delivered the keynote address at the [Cato Institute 28th Annual Monetary Conference](https://www.cato.org/monetary/) held last week.

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