« Why Does Health in the United States Lag Behind Other Countries’? Becker | Main | Should There Be a Debt Ceiling?—Posner »

01/20/2013

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Ricardo

Speaking of debt spending, Prof. Becker how do you respond to the grossly unresponsible spending of the last 2 republican administrations as seen here:zfacts.com/p/318.html ?

David Johnston

It isn't, or shouldn't be, a matter of partisanship. This piece doesn't mention Bush, Clinton, Bush, or Obama. The fact is that we have a debt to GDP ratio which now exceeds 100%. As mentioned in this post, that is above most other wealthy countries and will create serious problems if and when interest rates rise above historic lows. In any case, as we're taught as children, two wrongs do not make a right. Using previous failings as an excuse to continue the same failing policies is unproductive and will not ever result in needed change.

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