Eliane Glaser: Nation-states aren't housrholds: debating their economies as if they are is stupid

"But all this is economic bunk. Government spending is not a zero sum game in which individual policy costs must be matched with corresponding 'savings' elsewhere. Governments can raise money not only through taxation but also by borrowing, creating money, and investing for growth. Contrary to this proclamations, Osorne has merrily carried on borrowing billions, not only because he's a hypocrite, but also because it's the rational thing to do. As the New Economics Foundation has pointed out, the UK's-debt-to-GDP ratio is not high by historical and international standards, and with interest rates so low the cost of servicing the debt remains eminently manageable."

Quelle: http://www.newstatesman.com/politics/2015/03/nation-states-arent-households-debating-their-economies-if-they-are-stupid