The burden of government consumption is now, and frequently felt in gruesome, heartbreaking ways right now. The debt burden left behind to the sainted grandchildren is easy compared to what we're enduring, and it’s not even close.
What you’ve just read is not the consensus, however. In a recent AIER piece, Stefan Barti wrote that government consumption paid for with debt preserves “the benefits of spending while muting the immediate pain.” Barti is incorrect.
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