SMLL - In America Money Grows On Trees Right?

• A new wave of policy proposals is gaining steam, centered around the idea that the US can use unlimited amounts of debt (or money printing) without consequence.
• Currently, the US does not "print" spendable dollars. The increase in debt, however, has been having measurable consequences on the rate of growth in the economy.
• Debt in the US surpassed 400% of GDP for the first time in history, setting the stage for weak economic growth to come.
• No, in America, money does not grow on trees, and the increase in debt already has had profoundly negative impacts on the rate of improvement in the standard of living.
• Under record amounts of debt, economic growth will continue to fall in real terms, pushing down the risk premium on long-term Treasury bonds.

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