Post by AztecWilliam on Jun 21, 2017 16:55:53 GMT -8
Well, only if we do not want to end up like Iceland, Argentina, or Greece.
This piece makes sense. The trouble is, almost no politician is willing to do anything about our #1 national problem, namely the national debt. (In the following qoutes, the emphasis is mine.)
We (the authors) argue that if the United States had enacted fiscal rules to constrain deficits and debt over the past two decades — as some OECD countries have done — the national debt could have been reduced below tolerance levels by relying on orthodox fiscal policies. Thus a modest reduction in the rate of growth in spending and entitlement reform could have balanced the budget. In turn, a cyclically balanced budget would have resulted in sustainable fiscal policies, and the nation would not have had to respond to the Great Recession with a fiscal bailout that doubled the national debt.
...... The era of Keynesian stimulus is over....
www.realclearpolicy.com/articles/2017/06/21/the_united_states_has_no_fiscal_space_left.html
AzWm
This piece makes sense. The trouble is, almost no politician is willing to do anything about our #1 national problem, namely the national debt. (In the following qoutes, the emphasis is mine.)
We (the authors) argue that if the United States had enacted fiscal rules to constrain deficits and debt over the past two decades — as some OECD countries have done — the national debt could have been reduced below tolerance levels by relying on orthodox fiscal policies. Thus a modest reduction in the rate of growth in spending and entitlement reform could have balanced the budget. In turn, a cyclically balanced budget would have resulted in sustainable fiscal policies, and the nation would not have had to respond to the Great Recession with a fiscal bailout that doubled the national debt.
...... The era of Keynesian stimulus is over....
www.realclearpolicy.com/articles/2017/06/21/the_united_states_has_no_fiscal_space_left.html
AzWm
