How important is it to address our national debt? – with Paul Ryan and Barry Eichengreen
You Might Be Right
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How Do We Overspend on Low Priority Items?
I would be concerned when we have chronic overspending on low priority items. Some electoral systems are more conducive to this kind of intelligent discussion and compromise than others. Germany has a very low public debt, partly because it has a history that makes it phobic about inflation. With a bunch of different parties represented at the same time who they're always together in one room having to agree on policy.
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