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Its a way of stimulating the economy. Borrowing $$$ and pumping it into the money supply. It usually works but there's hell to pay if it doesn't.
The theory is that the resulting deficit is wiped out by the resulting economic growth. Makes sense in theory but there are scenarios in which the resulting growth does not occur which would be a disaster when the bond payments come due - we'd basically have to "print money" to pay them. This would start an inflationary spiral accompanied by skyrocketing interest rates.
Pray it works.
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