'Debt is OK'
I was drawn to a piece on the Mother Jones website by the promise of a little argy bargy in a video of the US Treasury Secretary, Steve Mnuchin's meeting (Feb. 26th) with students at the University of California, Los Angeles(UCLA) - the release of the recording of which Mnuchin apparently did not approve. The first 10 minutes contain warnings to the audience that free speech is precious, etc. and that troublemakers may be removed by the 'university police department.' They kept their word on that one. But the hour long video did provide some interesting insights into the Trump administration's mindset. Perhaps the most stunning was that a country with a 100% debt to GDP ratio need not worry about debt. 'Debt is OK' said Mnuchin, the ex-Goldman Sachs banker, who added that zero debt was a bad thing. The tax bill which cuts taxes most for the richest 1% and which many economists reckon will add $1.5 trillion to the national debt doesn't worry Mnuchin, who is confident that growth will take care of it. There's an evidence based policy for you.
If you you really have nothing better to do, here's the link:
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