The addition to the federal debt which crowds out investors and hampers the creation of new capital (with a K) may be unnecessary because it isn’t in an attempt to rectify a recession. It is merely increasing aggregate demand and allowing a short term increase in an already stable level of employment. Perhaps periods of economic expansion are appropriate times to decrease superfluous federal spendings which will allow for higher levels of growth in the long term. I think this would be more effective if the goal were to alleviate poverty or to increase the standard of living for the average American. I believe economic growth, As long as it is evenly distributed, Lifts everyone up, Rather than what is the main controversy surrounding the current tax cuts is that is disproportionately is beneficial to the ultra wealthy. (which is great and whatever it’s just that that is such a small percentage of the population and a segment which already enjoys rather high standards of living. ) I would rather see policy which safeguards growth in the capital stock rather than stimulates demand for a few quarters.