Only in the sense that they have greatly hastened the process.
I predicted this to a professor in college during the 1970s when we were discussing the NYC bankruptcy and federal bailout. I was poo pooed.
This is inevitable and has been since the mid eighties. Prior to that we had a mathematical chance of changing the direction. Not for over 20 years has there been even a mathematical possibility of avoiding the collapse.
Yes, but not since the 1980’s. This started with intensity in 1968, when we reached the point of borrowing one dollar for every dollar of GDP.
LBJ and “The Great Society” on top of all the other Socialist and Keynesian programs is what hastened this inevitable bankruptcy.