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The National Debt, Do You Worry About It?
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<blockquote data-quote="vantexan" data-source="post: 5861248" data-attributes="member: 24302"><p>QE covered excess spending, leading to a massive increase in our debt. That's something that stretched over about 12 years until the pandemic hit. QE was designed to keep the country from going into depression from recession. They should have just let the natural economic correction take place. Then the pandemic hit and they had no choice but to up spending to keep things afloat. But the virus was weakening and eventual normalcy was on the horizon. There was no need to inject massive stimulus into the system and it was likely to cause much higher inflation than the about 2% average we were experiencing under QE. Biden was warned of this by major economists. I can only guess he thought, or the people behind him thought, that it would be a big political win if it worked. They were into Modern Monetary Theory, which is basically spend your way to prosperity. It didn't work.</p></blockquote><p></p>
[QUOTE="vantexan, post: 5861248, member: 24302"] QE covered excess spending, leading to a massive increase in our debt. That's something that stretched over about 12 years until the pandemic hit. QE was designed to keep the country from going into depression from recession. They should have just let the natural economic correction take place. Then the pandemic hit and they had no choice but to up spending to keep things afloat. But the virus was weakening and eventual normalcy was on the horizon. There was no need to inject massive stimulus into the system and it was likely to cause much higher inflation than the about 2% average we were experiencing under QE. Biden was warned of this by major economists. I can only guess he thought, or the people behind him thought, that it would be a big political win if it worked. They were into Modern Monetary Theory, which is basically spend your way to prosperity. It didn't work. [/QUOTE]
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