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Politics : Formerly About Advanced Micro Devices
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To: TimF who wrote (542507)1/9/2010 8:44:53 PM
From: i-node  Read Replies (1) of 1573716
 
Yes even larger deficits (as a percentage of GDP) in WWII where handled ok after the war was over, but "handled ok" doesn't mean zero cost or problems, and also the main reason they could be handled ok is that all the spending which pushed the high deficits, was for a war, a temporary thing, not for the entitlement programs that are taking control of the budget in modern times, and that theoretically can last for a very very long indefinite amount of time.

Some people have made the case, as well, that the WWII spending was responsible in significant part for the great inflation of the 70s -- 25 years later. The idea that an economic policy starts and stops on Inauguration Day seems pretty ridiculous to me.
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