George Hall on the History of the U.S. National Debt and Government Financing
Macro Musings with David Beckworth
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The History of the Gold Standard
With the exception of pandemic, we see more tax financing, less bond financing over time. Is this because we do move away from that stable price level or is that a sign? Part of it is, well, we now have the income tax. And then some of it is the US is no longer a developing country. We can get away paying lower returns than we might otherwise get away with.
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