Stand Next to the Ugly, Dance Next to the Klutzy, and Talk Next to the Stupid...
It's not an ugly, dumb thing: it's an ugly, dumb, stupid thing.
I have three effects--a crowding-out effect, a higher-natural-rate-of-unemployment-due-to-less-capital-deepening effect, and an inflation-fear effect. The way the numbers work out is that I implicitly forecast that McCain will run average unified deficits of $500 billion a year, and Obama average unified deficits of roughly $150 billion a year. Push that down to a balanced unified budget and you get not an extra $600 billion but an extra $130 billion.
Aiming for a balanced unified deficit over the business cycle would, I think, be a good thing economically--but I really do not see how we could possibly get there.
The impact of the conservative revolution is that American's have such a terrible understanding about how an economy works that Democrats have to create these crazy economic plans that sell well.
Sigh... lesser of two evils... lesser of two evils...
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Jim Nichols
A Speculative Fiction
www.JimNichols4.com
2 comments:
The impact of the two-party system is that American's have such a terrible understanding about how an economy works that both parties create these crazy economic plans that sell well.
The lesser of two evils is still evil.
Amen brother...
sigh....
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