As of today, the U.S. government’s current deficit and debt are indeed currently at unprecedented levels for peacetime—once we account for them appropriately.
Investment in structures and machinery is one of the ways that an economy grows over time. But it’s not happening in the current “recovery.” Read more »
One of the authors of the paper that took down Reinhart and Rogoff talks to us about debt, austerity, growth, and why we need a wage-led recovery. Read more »