| Over the past few weeks, there has been a remarkable change of position among the deficit scolds who have dominated economic policy debate for 3years. It's not about the crisis next month; it's about the long run, about not cheating our children. The deficit, we're told, is really a moral issue. Pundits who spent years trying to foster a sense of panic over the deficit have begun writing pieces lamenting the likelihood that there won't be a crisis, after all. Maybe it wasn't that significant when President Obama declared that we don't face any "immediate" debt crisis, but it did represent a change in tone from his previous deficit-hawk rhetoric. And it was startling, indeed, when John Boehner, the speaker of the House, said exactly the same thing a few days later"..."The new argument is as bad as the old one. Yes, we are cheating our children, but the deficit has nothing to do with it. " |
Read the rest of the story HERE:
At www.nytimes.com
At www.nytimes.com
