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In 2019, the US economy grew by 2.3% and the federal deficit as percent of GDP was 4.6%. So isn't the situation today exactly the same as four years ago, befor
by pavlov 3y ago
In 2019, the US economy grew by 2.3% and the federal deficit as percent of GDP was 4.6%.
So isn't the situation today exactly the same as four years ago, before Covid, under a Republican administration?
Yet somehow I never heard this argument that GDP growth is a function of the deficit back in 2019.
- coliveira 3y agoI have always pointed out this, be it a republican or democrat government. They all use the same tricks to inflate GDP by borrowing. Now, I'm not against borrowing for the sake of economic growth, but you cannot keep borrowing 6% to get 3% growth, in the end this policy will not work.