Economics is about far more than numbers and graphs.
More often than not it's about politics. The big debate about fiscal rectitude and high levels of debt brought out the "political gottcha corp," this time on the left.
The huge focus on a spreadsheet error, very common occurrences, didn't really change the basic fact of the study: big debt slows growth.
Common sense tells one that. What it doesn't tell is what's the magic number or ratio. The normal human temperature is 98.6 with slight variation up and down.
Hang around an ER and you'll see some temps of 102 or 103-plus even. Do they all die? Absolutely not. But all get treated.
http://gregmankiw.blogspot.com/2013/04/stevenson-wolfers-on-reinhart-rogoff.html
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