Mistaking spending borrowed money for growth is one of the curses of our age. It has been fostered by the obsession with GDP as the measure of all things.
Thank you for telling it like it is. Boot-strapping is never a good strategy when it comes to economic growth or financial management (the latter something of an oxymoron or triumph over experience). We appear to be in an age where politicians are even more economically illiterate than usual. If debt is used to increase the productive capacity and/or efficiency of the entity raising it, then all well and good; if it used otherwise, then (eventually) the reckoning will come.
Indeed.
Thank you for telling it like it is. Boot-strapping is never a good strategy when it comes to economic growth or financial management (the latter something of an oxymoron or triumph over experience). We appear to be in an age where politicians are even more economically illiterate than usual. If debt is used to increase the productive capacity and/or efficiency of the entity raising it, then all well and good; if it used otherwise, then (eventually) the reckoning will come.