Share on Google Plus Share on Twitter Share on Facebook Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend 2 (2 Shares)  
Printer Friendly Page Save As Favorite View Favorites View Stats   No comments

The Dwindling Deficit - By PAUL KRUGMAN

Quicklink submitted by Susan Lee Schwartz     Permalink
Related Topic(s): ; ; ; , Add Tags

View Ratings | Rate It

" The budget deficit isn't our biggest problem, by a long shot. Furthermore, it's a problem that is already, to a large degree, solved. The medium-term budget outlook isn't great, but it's not terrible either -- and the long-term outlook gets much more attention than it should..The point is that the case for urgent action now to reduce spending decades in the future is far weaker than conventional rhetoric might lead you to suspect. And, no, it's nothing like the case for urgent action on climate change." The Federal deficit "is mainly the result of a depressed economy -- and you're actually supposed to run deficits in a depressed economy to help support overall demand. The deficit will come down as the economy recovers: Revenue will rise while some categories of spending, such as unemployment benefits, will fall. Indeed, that's already happening.

Read the rest of the story HERE:


- Advertisement -
- Advertisement -



The time limit for entering new comments on this Quicklink has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
No comments