A thought experiment on how to fix the national debt problem
2 July - 25 mins
Podcast Series
Planet Money
There's an economic fantasy you sometimes hear in D.C. It often gets trotted out when politicians are trying to add billions or trillions to the national debt. They claim that all the new spending will be worth it in the end because we will supercharge economic growth.
This fantasy recurs again and again, because economic growth is a potent force. Over the next few decades, tiny changes in how fast our economy grows could decide the fate of the federal government — whether we can bring the massive national debt under control or whether we spiral into a fiscal crisis.
Today on the show, we talk to three economists who have been sifting through the latest evidence. They're trying to figure...
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