``Q4 2013 is generally seen as quite good, but that's just because federal; debt rose most in those 4 years, and still GDP rose by less than a third of the additional debt. Again, plenty explanations will be offered by pundits and bankers and statisticians, but if you simply add up all the differences between the added debt per quarter and the GDP growth it engendered, you must conclude you're watching a losing game.''

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