[justincormack]

They spent the last ten years building houses no one wants now and creating a property bubble. It wasn't deficit spending it was just excess borrowing. Sure it created jobs for a bit but then they went away just leaving a lot of debt. Somehow you need to actually build a sustainable economy.

[brc]

No argument from me, private borrowing to spend on unproductive assets is just as bad as public borrowing to dig holes in the ground and fill,them in again.

The key is productive work- work that people are willing to pay for without incentives or coercion.