Quotation of the Day…
by Don Boudreaux
on August 17, 2018
… is from George Will’s most recent column, “Another epic economic collapse is coming“:
Another hardy perennial among economic debates concerns the point at which the ratio of debt to GDP suppresses growth. The (sort of) good news — in that it will satisfy intellectual curiosity — is that we are going to find out where that point is: Within a decade, the national debt probably will be 100 percent of GDP and rising. As Irwin M. Stelzer of the Hudson Institute says, “If unlimited borrowing, financed by printing money, were a path to prosperity, then Venezuela and Zimbabwe would be top of the growth tables.”
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