Ethics

Is More Debt Really the Solution?

By Ed Brayton

Let me start by stating the obvious: I'm not an expert on economics. I'm not sure I'm even capable of evaluating with any real sophistication the arguments of those who are. And I do see the simple logic in using government spending to pay for infrastructure improvements that set the stage for future growth (and frankly, if more of the stimulus actually did that I would probably be less inclined to question it).

But I'm concerned about the notion of running up more debt on top of the massive public and private debt we already have (and unlike Republicans who cheered on their own party's profligate spending over the last 8 years, I can express such concerns without hypocrisy) in order to attempt to spend our way out of a recession. Is it good for us? Even if it works in the short run, could it have consequences in the long run that aren't worth risking?

Full post as published by Dispatches from the Culture Wars on February 11, 2009 (boomark / email).