FMC
Some socialists may think that there are no consequences to almost
limitless borrowing, but just as the clean up of a drenched house in the
aftermath of successful firefighting is arduous and painful, so too
will be the consequence of the national fight against Covid-19. The
added weight of unspeakably large debt will burden the nation, its
taxpayers, and particularly younger generations for years and years to
come. This is not a free ride. .....You cannot borrow your way out of recession or spend your way out of
debt. Thankfully, the deficit reduction of the last decade has meant
that in a moment of crisis such as the one we now face there is more
confidence in our ability to pay it back. Ten years of fiscal restraint
left us ready to borrow huge amounts for emergencies."
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