By South SFV Today |
Oct 21, 2024
In 2019, Olivier Blanchard, former head of the International Monetary Fund, suggested that the United States could manage its growing budget deficits without fiscal repercussions. This perspective was common before the COVID-19 pandemic. Economist Hanno Lustig from Stanford Graduate School of Business notes, “The thinking was that the fiscal capacity of the U.S. government might essentially be unlimited.” However, he adds, “After the COVID-19 pandemic, we woke up and realized that’s not quite the right way to think about it.”
