... [with the recent tax reform bill] we missed the golden opportunity to offset some revenue loss and address generational equity when Congress passed tax reform. Instead, government debt, which has doubled over the last decade, is set to increase to levels only reached during World War II over the next decade. So we will have sacrificed our future during a relatively peaceful economic period . . . simply because politicians can't say no.


Bond-buying by central bankers, commonly referred to as Quantitative Easing (QE), has become so ingrained in current thinking that it is now in the Fed's conventional toolkit-- a tool once reserved for a depression or financial crisis is now to be used at the first inkling of the next recession.

... it is most surprising that forty years after wage and price controls were sadly rejected by every economic textbook and policymakers, today we have settled to allowing the most important price of all, long-term interest rates, to be regularly distorted by [the central bank.]

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