"Now, his conclusion has merit, but the premises are dodgy."
Oh, at the very least he has grossly oversimplified a complex system -- including glossing over (or maybe misunderstanding) key features. Like you, I think his conclusion has merit (even though it lacks the nuance reality has, like when it's safer to increase debt than impose austerity). I look at this as his getting part of the answer right -- don't pretend debt is meaningless, don't promise tax cuts that can't really be afforded yet -- but if anyone were to justify fiscal policy solely based on this one argument, I'd complain about black-and-white thinking.
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