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Politics : View from the Center and Left

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To: epicure who wrote (39707)	7/17/2007 2:14:37 PM
From: Dale Baker	Read Replies (1) of 541303

doesn't that mean the budget deficit numbers are nothing more than a fairy tale? Yep. Washington mirror tricks, nothing more. What happens when that stops? It's not that much in the overall scheme of things, maybe $100 billion per year or less than 1% of GDP. But it has been enough to goose economic growth a little bit, which is what deficit spending is all about. Only now we call it "tax cuts" as we cut rates and spend more and more and more. Then when the deficit stimulus produces more economic activity they point to marginal rates instead of overall spending and money supply. Another Washington mirror trick.

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