With the yields on US debt at very low levels (0.12% on the 30 year TIPS, and 2.33% on regular 30 year bonds) and inflation at persistent low levels for the last decade (1.7%) wouldn’t it be prudent to take on even more debt, not less? Certainly there are initiatives that could yield greater than 0.12% real or 2.33% nominal returns. I would be in favor of more stimulus on programs that have longer term benefits such as lead abatement, infrastructure spending and green energy subsidies.