Why Debt-Financed Splurges Are Dead End

We are all amply familiar with the neo-Keynesian wisdom, repeated endlessly on both sides of the aisle, that government can reliably stimulate private sector prosperity through ever-larger outlays. As Congress debates a $2.4 trillion reconciliation package, we should consider whether debt-fueled government spending ever delivers renewed growth. The notion is not just wrong; it is dangerously counterproductive. Read Full Article »