Jeremy Grantham on the government debt problem

Going back to my last post, the point I was making there is that government economic policy should be geared toward helping to maximize the efficient long-term use of real resources. The goal has to be on the real resources. In the video below, which is an excerpt of a Charlie Rose interview to be aired tonight, Jeremy Grantham says pretty much the same thing.
Here's a bit of the transcript, talking about government debt:

I feel – I guess – that it's substantially too high. I guess that yo...

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