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Cure for the Public Debt Pandemic: An Economic-Principles-Based Fiscal Anchor
Friday, February 2nd, 2024
… we don’t have a textbook fiscal policy but rather a counter-recession and pro-expansion debt policy… over a business cycle, the net accumulation of public debt should be equal to the value of income-generating investments. This anchor would fluctuate with changes in business conditions but would guide policymakers to maintain the tight relationship of its two parts over time… We can call this anchor “net economic public debt.”
Tags: budget, economy, globalization, ideology
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