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Politics : View from the Center and Left

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To: RMF who wrote (15138)	3/26/2006 6:51:19 AM
From: Dale Baker	Read Replies (2) of 541969

The new rationale for deficits is that they are "within historical norms" as a percentage of GDP, and they are smaller than some other western allies on a GDP percentage basis. The fact that we are piling on more and more absolute debt that has to be repaid one day (and serviced in the meantime) no longer enters into it. Indefinite debt increases are the new "norm". It can't go on forever without some real pain down the line.

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