"I would like to know if there is any discussion of the deficit in this book. The democrats seem to have a new-found fear of deficits (which they didn't seem to care about for 40 years) and I would like to read some explanations about the danger (or lack thereof) of the current deficit, and also what the President is planning on doing about it. Thanks!"
We do address deficits, and several of our writers probably differ even with each other on the issue. I CAN say this much: don't believe a Democrat on this issue, EVER. To them, deficits are a red herring, a propaganda point to split fiscal conservatives from each other and from other conservatives. And there's only one answer on the Democrat side anyway: tax, tax, tax. Cutting spending never enters the equation.
Now from my personal perspective, I don't like deficits at all, but in the short term, they're irrelevant. The nominally-record deficits we're running right now -- in a time of both war and (earlier) recession -- are actually a far lower percentage of GDP than the deficits of the early 1980s, which came at the outset of a twenty-year boom. And moreover, so long as the dollar remains the world's reserve currency, the normal rules of "crowding out" and such simply don't apply. There's a virtually unlimited market out there both for dollars and for dollar-denominated debt. If we're ever going to run deficits, this is the single best time in history to do it.
Of course, long-term all bets are off. So we need to wean the American public off of big government as fast as we can, which is the whole point of the Ownership Society.
I don't trust them either, on anything economic. I still think the boom of the 90's was at least 50% cooked books in certain companies that seemed to give large amounts of money to the DNC and somehow never got investigated. Funny, that.