I teach other people’s kids, and have none, and would myself be proof that Ferguson is wrong. But my experiences indicate he would be right more than wrong.
The point is that his theory doesn’t hold in the case of a president that is purposefully wracking up debt without attempting to pay it down in order to destroy the national economy. It is not gay, it is not childless (the Obama kids will be well taken care of) and it is especially not Keynsian, which does not advocate long-term structural deficits.