I agree, though if you take on unsustainable debt without yield then you do inevitably get a credit rating hit, and you have to retreat. Keynes had a good idea of paying off the debt when times were good, but that has never been done without crisis it seems. When you do get austerity after credit ratings fall it means a lot of misallocated capital unwinding, and it was probably better the spending programs never existed at all, as you’ve created a dependency and a void for the service.

I’m quite left leaning, though my idea of raising taxes to keep debt loads in check is further right leaning these days.