How important is it to address our national debt? – with Paul Ryan and Barry Eichengreen
You Might Be Right
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Public Health Emergency
There are good reasons to incur debt, public debt, and they're not so good reasons. So chronic overspending on low priority programs is not a good thing. On the other hand, there are all hands on deck emergencies when the government has to mobilize all available resources beyond what can be mobilized. What can be mobilized in the short room through taxation and spending that is financed out of current revenues.
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