Read more on this subject: Economy – Economics USA
News Story Source: https://www.fff.org, by Jacob G. Hornberger
Baker takes the Washington Post to task for expressing concern about the federal government's soaring debt. Now, when a leftist newspaper like the Washington Post is expressing concern about the federal government's debt level, that should be enough to raise eyebrows, even among people who love out-of-control welfare-warfare state spending.
Not Baker. He isn't concerned at all. He writes:
The Washington Post is always [sic] telling us that debt, especially government debt is bad, very bad. It's not quite sure why or how, but debt is definitely bad.
He says that people who express concern about the federal government's ever-increasing debt are in a "debt cult." After all, he says, the United States is a rich country and the U.S. dollar is the world's "reserve currency."
He writes, "The standard economics argument against the problem of high deficit and debt is that it will lead to higher interest rates."
I don't kn
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