The Post-Keynesian School of Economics claims that business and personal debt create instability that sinks the U.S. economy. Private debt, however, is not the cause of boom-and-bust cycles.
This is yet another illustration of how "democracy" in America means whatever the elites say it means. When elections may lead to outcomes that are particularly inconvenient to the regime, the regime's agents intervene to nullify the elections or to prevent an election from taking place.
