Do We Really Need to Reduce US Debt?

if one is asking what is the most effective way to pay down our debt, I would argue that going with fiscal policy (reducing spending, raising taxes) is not particularly effective since Congress can’t even agree on what to name a post office, let alone a way to balance the budget. Rather, monetary policy is how we will reduce our debt which is exactly what we did the last time it ran up in WWII. We inflated our way out of debt.  The number stayed essentially the same, it just came to be less and less scary as time went by because it was denominated in dollars and over time the dollar was worth less and less. . .


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