This campaign seems to be about dueling handouts with literally no mention of our unsustainable debt and deficits by the media or the candidates. Fantasyland.
Hey- we have 2 pct growth and all it takes is 6 pct of GDP deficits at full employment and a price level 30 percent higher than 5 years ago in many products. Who knew it was so easy? As long as we can borrow and spend another 6 or 7 percent of national income every year we can grow nominal national income by 4 or 5 percent a year. Like a magic money tree (for those who can’t do the math).
Well said! Public understanding of basic economics is terrible and sad.
This campaign seems to be about dueling handouts with literally no mention of our unsustainable debt and deficits by the media or the candidates. Fantasyland.
Hey- we have 2 pct growth and all it takes is 6 pct of GDP deficits at full employment and a price level 30 percent higher than 5 years ago in many products. Who knew it was so easy? As long as we can borrow and spend another 6 or 7 percent of national income every year we can grow nominal national income by 4 or 5 percent a year. Like a magic money tree (for those who can’t do the math).