"Remember, the true constraint for an autonomous currency issuer is not debt. The US govt is not going to “run out of money”. The true constraint is always inflation. We can always afford to finance all the programs we want. We could build 20 new cities in the USA if we wanted to. We could build a high speed rail system connecting NY to LA. These are political decisions. Not affordability decisions. But we’ve become convinced that we can’t afford anything because of some mythical level of debt that is supposedly hampering growth. Sure, there are plenty of inefficient govt spending programs and I’d love to see the fat cut out, but that doesn’t mean we’re Greece. There was a time in this country when we used to dream big and talk about landing on the moon and things like that. Now we sit around finding ways to be scared about everything."
— Pragmatic Capitalism - http://pragcap.com/qa-the-answers-9
