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Key bit:   If the United States were to issue debt in order to rebuild its industrial base and reduce the current account deficit, increased debt might be justified. That is not the form that deficit spending is likely to take under a Biden administration, which is likely to offer lip service to investment in technology while spending lavishly on social and environmental programs.

Read the whole thing:  https://pjmedia.com/spengler/2021/01/16/bidenonmics-will-bankrupt-us-n1389923