Oddbean new post about login | logout Can you imagine how the US economy would boom if the US quit printing money and reduced spending within their budget? We should be able to cut taxes and start slowly paying down the debt as well, but even if we didn't, just quitting money expansion and not running up more debt would be huge!
I don't have to imagine. We have precedent in the post-civil war era once Lincoln's draconian financial measures were done away with and the interim until 1913. That period set the most explosive growth the world had ever see until that time, and, it would be orders if magnitude bigger these days. But, that would require giving up control, and... We know that no one want to do that