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Slowing the growth of US debt
The recently established House-Senate budget negotiating committee presents the opportunity to solve two major national problems: preventing the future explosion of the national debt and increasing current growth and employment. These problems have to be solved together. Because monetary policy can do very little to stimulate demand, to have faster growth and more jobs, we need a program of infrastructure spending and pro-investment tax changes. But it would be irresponsible to add to the near-term deficit without limiting the future growth of the national debt...Read More
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