Opinion: Don’t trust the magical thinking behind the argument that debt doesn’t matter since interest rates are low, writes YaredPierre
Several Democratic presidential candidates have showered Americans with spending promises. Many support some version of Medicare for All, which could cost $32 trillion or more over the next decade. Making the transition to a low-carbon electricity grid, a popular initiative in the Green New Deal, is projected to cost more than $5 trillion.
Though candidates haven’t put forward detailed financing plans, we can assume these policies would increase U.S. government debt significantly. Some prominent economists—the Peterson Institute’s...
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