"Walt" wrote
the debt fairy is coming along any day now?


The bad news, he's engaged to the foreign-policy fairy.


Gilligan wrote:
Why is borrowing money at historically low interest rates so bad?


It wouldn't be so bad, if the money were spent on something
constructive that offered future returns.


Especially if followed by a growth in the money supply that exceeds the
increase in the GNP?


??? Increasing the gov't debt has very little to do with
increasing the money supply. And the increases in GNP have
rather paltry, lately. And this is after starting a war,
traditionally a great way to goose a national economy; and
eliminating all those pesky environmental regulations, which
should also give a boost. What's up with that?

Besides, everybody knows that those darn libby-rull
Democrats are the ones who don't know beans about the
economy. Now that they're in charge, just LOOK at the deficit!

This thread got side tracked somehow. What I started out to
say, for 1 ASA/economist point, can anybody answer what
economic theory did Friedman produce? 2 points if you can
explain it.

DSK