Congressional Budget Office to the Senate:

Congressional Budget Office to the Senate:

“The principal channel for this effect is that the legislation would result in an increase in government debt. To the extent that people hold their wealth in the form of government bonds, rather than in a form that can be used to finance private investment, the increased government debt would tend to ‘crowd out’ private investment -- thus reducing the stock of private capital and the long-term potential output of the economy.”

We have been told and warned....