Friday, November 20, 2020

Should we worry about the debt?

Jason Furman makes the case for why now is not the time to worry about public debt (similar to his presentation from last month). The points aren't necessarily novel, but he is making a strong push for incorporating a bit of empiricism in the way academic economists think about the debt. In short, he says be wary of economists speaking of crowd out and intergenerational fairness when evidence points to the effects of public spending operating in the opposite direction today. 

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