J.W. Mason posted an interesting list of arguments to not worry about government debt levels in "A Baker's Dozen of Reasons not to Worry About Government Debt." On reading it, I realised that one could cut through the whole thing by arguing as follows: the reason why we should not worry about government debt in a country like the United State is that nobody can come up with a (not highly disputable*) reason why that the stock of debt matters.Bond Economics
I will largely leave that assertion for the reader to chew on. However, I would note that I chose my wording carefully....
Debt Worries Yet Again
Brian Romanchuk
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