Does National Debt Still Matter? America’s Greatest Gamble

Fiscal hawks have always warned of an impending financial crisis caused by the American government’s growing debt, but Jason Furman and Lawrence Summers argue that debt isn’t as bad as economists make it out to be. “If it costs you…zero to borrow and something does more than zero, it’s worth doing,” says Furman, believing that the taxes imposed on critical infrastructure built with borrowed money will be enough to pay for the debt and turn a profit.
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