George Hall on the Fiscal Consequences of the US War on COVID
Macro Musings with David Beckworth
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Fiscal Consequences of Pandemic Spending
This chapter analyzes the rising debt-to-GDP ratios resulting from U.S. government spending during the COVID-19 pandemic and its implications for bondholders and taxpayers. It explores historical fiscal patterns in comparison to current budgeting practices, highlighting the risks of sustained deficits and inflation on the economy. The conversation emphasizes the intertwined nature of monetary and fiscal policies, especially in times of crisis, raising concerns about future economic stability.
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