Higher interest rates make government debt unviable as an economic solution | Kenneth Rogoff

Big economies such as the US must change fiscal policy as the realities of debt and inflation biteFor more than a decade, numerous economists – primarily but not exclusively on the left – have argued that the potential benefits of using debt to finance government spending far outweigh any associated costs. The notion that advanced economies could suffer from debt overhang was widely dismissed, and dissenting voices were often ridiculed. Even the International Monetary Fund, tradition