Question: Up until 2016, the U.S. gross debt is about $ 20 trillion, larger than our annual GDP. Use Delong and Cohen's argument in the article
Up until 2016, the U.S. gross debt is about $ 20 trillion, larger than our annual GDP. Use Delong and Cohen's argument in the article "Where Did all Their Money Come From?" to explain how does the U.S. provide the money demand in the last few decades, especially when the domestic money demand is much larger than domestic money supply. Should we worry? Why and why not?
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