[Peace-discuss] NYT - 1.2 trillion deficit forecast

[David Green]

http://www.nytimes.com/2009/01/08/business/economy/08deficit.html?hp

Clinton waited until he was inaugurated before deciding that saving was more important than spending, especially saving on programs that actually help people.

Obama is not waiting that long. Bush has set the table for him, and he's digging in. Instead of NAFTA and a crime bill, perhaps we'll get rid of Medicare and Social Security.

Good economists patiently explain that in a recession/depression, the deficit simply doesn't matter. It will be made up for with growth.

Money for war will be off the books.

Conspiracy? What conspiracy?

DG