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I don’t believe this lesson is true, that a govt needs a plan to repay the borrowed money to avoid inflation.

The lesson is that, with low amounts of borrowing in a market economy, the govt can get a 2%? 1%? O.5%? (Of annual GDP) Free lunch. Not an “all you can eat, for all” , but some significant amount. The Trump amount was the maximum, the Dem Biden amount was too much.

Japan’s never ending debt growth has been at or below Max Free Lunch deficit, for 30 years (less than forever).

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