Introduction As debate in Washington continues over how (or whether) to pay for the latest infrastructure plan, someone will inevitably claim it will pay for itself. (1) Such optimism reflects the belief that government spending creates jobs and grows…
Congress voted in February 2018 to again suspend the federal debt limit. On March 1, 2019, it went back into effect and was set at the level necessary to include all debt racked up prior to that date ($21.988 trillion). While…