It is quite right to argue that governments should aim only to balance their budgets over the business cycle, running surpluses during booms and deficits when economic activity is weak. But it is wrong to think that massive accumulation of debt is a free lunch.
但到底是谁幼稚？政府应该只追求在整个经济周期内实现预算平衡，在繁荣期积累盈余，在经济活动疲软期增加赤字，这当然是正确的。但认为巨额债务积累是免费午餐就大错特错了。