Philadelphia Inquirer: deficits matter

[paineinthearse]

"Deficits matter. Even with slightly improved projections, the federal deficit still will total $333 billion in the current fiscal year, the third largest on record. That figure doesn't represent the true deficit, because it doesn't include about $170 billion in Social Security surplus that the government is 'borrowing' from the retirement program to pay for items like farm subsidies and tanks. While it's good news that this year's deficit is receding (from $412 billion last year), the federal ledger is still way out of balance. Sustained deficits drive up interest rates, drag down job creation and weaken the dollar."

- An editorial in The Philadelphia Inquirer today

I do not have an account with the PI, can anyone post the editorial and/or link?

[JRob]

1. Deficits don't matter to those whose children will be rich regardless...

[BCBud]

2. Exactly...

.....national debts are paid for by tho middle and lower classes in one way or another. When your company is international and your millions or billions are in off-shore accounts what do you care about deficits and debt.

[zbdent]

3. Who don't have to pay taxes because they inherit all their money

and then get an extreme break (if not totally skate free) on the interest generated from said inheritance . . .