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I see a lot of comments here to the effect that this means debt is a free lunch now. Would that it were so - we could get rid of taxes, as well as Medicare and
by Uhhrrr 14y ago
I see a lot of comments here to the effect that this means debt is a free lunch now. Would that it were so - we could get rid of taxes, as well as Medicare and Social Security withholding. And nix the Obamacare penalty. And, of course, buy everyone a pony.
Sadly, ponies are a finite resource until such time as the government figures out how to print more of them. Debt still has a multiplier less than 1 - far less, for large amounts of debt.
All this article means is the magic number where debt starts to cause deep hurting is somewhere above 90% of GDP.