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Politics : The Trump Presidency
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Terry Maloney
To: bentway who wrote (214085)10/8/2021 1:38:10 PM
From: puborectalis1 Recommendation  Read Replies (1) of 360982
 
It should be said that Manchin’s case is not very persuasive. Interest rates are low and have been for the past decade. The Congressional Budget Office expects interest rates to stay low until at least the 2030s. For the government, then, borrowing is cheap, and there’s little risk that the additional debt will overheat the economy or crowd out private investment. We can, and should, spend much more than $3.5 trillion, especially since — when spread out over 10 years — that number would be 1.2 percent of our projected national income over the same period.

But the reality of America’s fiscal capacity isn’t the point. For as much as he talks about debt and spending, Manchin’s objection is more moral than it is practical. To say that you don’t want to foster an “entitlement” mentality among America’s able-bodied adults is to make a statement about the proper order of things, as you understand them.
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