Zeev's Turnips Patch-No Politics (ZEEV)

[Elroy Jetson]

If the government increased spending, it would have to be a bold stroke. We certainly could spend on many infrastructure projects, both repair and new, or improve public health or education.

But the risk is becoming Japan, slowly increasing government spending projects just enough to prevent complete collapse. Over the past ten years they have managed to multiply their debt from almost zero to 2.5x the level of the US per GNP - while remaining in a depression.

It will be a tough sell to convince Americans to increase government spending enough, and quickly enough to do the job. I see a Japan outcome of "gradualism" as more likely.