Sunday, November 15, 2009
The Deficit Chimera
Paul Krugman has a pair of blog posts explaining the fallacy of worrying about the deficit at a time of Zero interest rates and double digit unemployment. In the earlier one, he cuts right to the heart of the matter.
I’d be a little more forgiving of the nonsense if all the people screaming about the deficit were sincere. And some are. But many, if not most, are perfectly happy to incur huge unfunded liabilities for the wars they want to fight, and/or to eliminate inheritance taxes for the heirs of multimillionaires. It’s only deficits incurred to help working Americans that get them all moralistic.And those who don't know any better continue to support these bastards.
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