Oh, and forthose who say "What aboutItaly with its currentdebt of 105.8% of GDP?" Take another look. Italy currently ranks above 26 other European countries in GDP. Maybe allthis hand-wringing, worrisomestuff about deficit spending is justwasted time. But I'm not the expert. I'lldefer to PaulKrugman to finish this piecewiththe mainpoint of thisviewpoint.
"The point is that running big deficits in the face of the worst economic slump since the 1930s is actually the right thing to do. If anything, deficits should be bigger than they are because the government should be doing more than it is to create jobs"Thanks to deficit hysteria, Washington now has its priorities all wrong: all the talk is about how to shave a few billion dollars off government spending, while there's hardly any willingness to tackle mass unemployment. Policy is headed in the wrong direction -- and millions of Americans will pay the price." Paul Krugman
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