This all sounds crazy because for 200-years the received wisdom has been that government budgets must eventually be balanced, just like household budgets. However, the historical fact that every time governments try balancing their budgets and paying off their debt an economic disaster occurs, seems to have been ignored. Contrary to the majority view, as long as inflation is under control--as it has been since the great recession--deficit spending will continue to fuel an expanding economy. Maybe, last week's argument that the current bull market has years of life left in it, is not so crazy after all....Seeking Alpha
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