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n3il
This whole fiscal 'black hole' is complete rubbish. It reminds me of Osbourne's 'household budget' lie back in 2011.
We are running a budget deficit. And we can continue running a budget deficit as long as people are willing to buy Treasury bonds. And if the government wanted to spend more and incur more debt, we can do that as long as we have a long term plan to invest in and grow the economy, which will reduce the deficit over the long term.
Austerity is a political decision, not an economic one.