New post at Policy Shop. Excerpt:
Instead of going down either of those routes, I think we should go in a totally novel direction, at least in the short-term. What if there was a way we could reduce the federal deficit and the federal debt without raising taxes and without cutting spending? It seems too good to be true, but it’s not. All the federal government has to do is borrow money and invest it. If the interest paid on the borrowed money is less than the return on the investment, then the government will net revenue.