Someone has to inform Greenspan about the fact that "deficits don't matter".
They generally do not, but Greenspan's worry is the baby boomer retirement that is just around the corner. High deficit spending would not be the thing to have when adjusting to the sudden increase in outlays at that time. that is what he has consistently harped on and warned congress about.
under normal circumstances, deficit spending for short periods is of little consequence to interest rates or anything else. As history has shown repeatedly.
posted on 02/25/2004 8:04:14 AM PST
by Cold Heat
(In politics stupidity is not a handicap. --Napoleon Bonapart)
"under normal circumstances, deficit spending for short periods is of little consequence to interest rates or anything else. As history has shown repeatedly."
So are you saying these are "normal" cicumstances and "deficits don't matter", or are you saying we're no longer in "normal" circumstances.
Do deficits now and for at least the next five years constitute "normal" for you. They sure don't for me!!!
Don't worry - be happy - deficits don't matter.
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