We can identify cause and effect

Look at the minor cycles in debt. The increments line up on Swamp regime change points.  This is about as conclusive as one can get in connecting regular bailouts with lower growth.

This makes Jared Bernsein full of  crap about his Keynesian stimulus.  One chart proves his life long philosophy is crap. 

A suggestion for the kids, do not drop one of those priors pills while in college. You will end up looking like a dunce. Just tell folks you are too smart to jump on the priors bandwagon.