How I learned to stop worrying and love the deficit
Michael Kinsley asks an important question at the conclusion of his article in the LA Times:
The question remains: If the deficit doesn't matter, why have any taxes at all? And if there is some point at which the deficit does start to matter, and become dangerous, when is that point if $1.6 trillion isn't it?We're now borrowing somewhere between 40 and 42 cents of every dollar the government is spending. Since certain dwarfish Princeton economists insist that this unprecedented level of borrowing is inconsequential, why not make it 100%? Just fire up the $100 printing presses and be done with the whole thing.
Wow, I feel so much better now. Yee-haw!