Borrowing Our Way Out of Debt

What no politican will say:

“American consumers are awash in debt, drowning in it. This is the fundamental issue with the stimulus proposal. We’re trying to borrow our way out of debt. Unfortunately, we need a recession…It’s theoretically possible for an intelligently-designed stimulus action to help smooth this landing a bit, but we can’t avoid a painful adjustment…” Jim Manzi

Tags: Activism