Spending isn't a good analogy to GDP either. We should probably just dispense with the analogy altogether... The bigger point is that debt is often the lubrica

Spending isn't a good analogy to GDP either. We should probably just dispense with the analogy altogether... The bigger point is that debt is often the lubricant of growth. E.g. we're FAR better off borrowing money to educate our kids than saving money and raising kids with no knowledge or skills.