Why would you evaluate policy outcomes by what they would be in different conditions than the ones that they actually exist in? Certainly, the current cost of borrowing <i>ought</i> to be a factor in making fiscal policy decisions.<p>I mean, would any <i>business</i> make decisions about financing based on what the costs <i>would be</i> in of those decisions in past decades rather than what the costs are reasonably expected to be in the conditions that actually exist?