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Is the Business Cycle Broken this Time?
No way government involvement is temporary
The U.S. national debt soared in the 1980’s on the record deficit spending of the Reagan Administration to get the country out of the panic of the 1970’s recessions and stagflation. There was no way to escape the consequences. Economists competed with each other with dire forecasts of how this time was different and the nation was headed inevitably into bankruptcy. Remember that huge electronic clock set up somewhere that they’d periodically show us on TV, as it kept track of the millions that were being added to the national debt every minute – or…
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