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Continued efforts to achieve fiscal consolidation coupled with the steady decline of bank financing of the Treasury over the last several years should also prompt banks to expand their lending to the private sector. Representing the ratio of tax receipts to GDP as a calendar date is silly and misleading, and has little to do with how much an average or median American has to work to cover their taxes, which is what the media stupidly presents it as. What happens then is that you end up with a bigger group of people who are going to get nowhere. You want a long credit history for one thing.
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