By Richard Vague, includes “… As both the government and American households and businesses use debt to fight the economic collapse caused by the pandemic, these debt ratios continue to spike. … This huge debt overhang portends an extended period of stagnant and ever slower economic growth … This is not another broadside against government spending and call for austerity—far from it. It’s a call to unburden American households mired in debt. Certain types of broad debt restructuring and forgiveness could help get us out of this debt trap and could be politically feasible.”
Read the full article on: Democracy