You can dress it up any way you want. In the end, it's simple logic. When you borrow, as we have done over the past 30 years in order too boost GDP (and gotten less GDP for each $ borrowed each successive year), you get more in the present and less in the future. We are now in the future. It's simple exponential math. If debt grows faster than GDP, which it has for decades, then there is no way to "grow our way out of it."
At some point one is forced to stop the borrowing and pay down the debt. Of course no one tells the truth about what this actually means: an at least 10% hit to GDP as the so-called stimulus masquerading as growth disappears. Watching BBG TV last night, every single asshole they brought up was singing the "more short-term stimulus is needed" tune. Well, that's what you said in 2008! That's what you said in 2000! You can't paper over the simple fact that we are NOW facing the fact that we pulled forward demand for the past 30 years through debt-financed deficit spending, and that we actually have to pay that back now.
When you borrow, you get more in the present for less in the future. Welcome to the future.
