Fed Chairman Jerome Powell says government borrowing to pay for free college tuition and other social programs is unworkable. 24/7 News Source reports that Powell told the Senate Banking Committee yesterday that the idea that deficits don't matter is "just wrong."
He made the comments when asked about controversial proposals like Medicare for everyone and a conversion to renewable energy in the next decade. Powell also repeated his warning that U.S. fiscal policy is unsustainable in the long run.
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