There are surely more ridiculous narratives (about money in particular), but the one from President Biden about his $3.5 trillion economic plan being “paid for” is right up there. Nothing is “paid for” when it comes to government spending. It’s all cost.
To see why, please ask yourself why Congress can spend trillions every year, but the political class in Honduras consumes $5 billion or so. The answer to this riddle isn’t challenging, but economists and politicians are plainly in the dark.
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