The Hubbard is bare?
His concluding remarks:
America’s high and rising national debt threatens our economic health through higher future taxes, crowding out important government services, or both. The best antidote is a focus on economic growth and a balanced approach to deficit control.
Are those now the only two arrows left?
Higher future taxes and crowding out GOVERNMENT services?
Yes, higher taxes to cool demand if the output gap gets too small, which would be a good thing, and I thought it used to be that govt deficits crowd out private borrowing?
All the rest has been abandoned?
Because he now knows they are nonsensical fear mongering?
Pathetic that he carries on with it at all, of course
By R Glenn Hubbard and Time Kane