"Deficits not a problem in short run" -White House

[originalpckelly]

http://www.marketwatch.com/News/Story/Story.aspx?guid=%7B071E004A%2D5AB8%2D467F%2DA1AD%2D2CAED94860C7%7D&dist=newsfinder&symbol=&siteid=mktw&print=true&dist=printTop

"BOSTON (MarketWatch) -- Persistent budget and current account deficits are not a problem in the short run, top White House economic adviser Edward Lazear said Tuesday. Speaking to the National Association for Business Economics, Lazear said the federal budget deficit "is actually in pretty good shape" in historic terms. Lazear said the current account deficit is not sustainable at the current levels, but he said he expects a gradual reduction. "In the short run, it's important that we continue" to attract capital from foreigners, he said. Lazear spoke as the Commerce Department reported a record $68 billion deficit in trade of goods and services in July. End of Story"

NO SHIT? Really? They DON'T impact us in the short run? WOW! The doors of perception are really open in that fella's head. That is some high quality analysis! I am sure glad my tax dollars (or tax deficit) go to pay that pride and joy of the economic profession.

[longship]

1. Wash, Rinse, Spin, Repeat. nt

:kick:

[originalpckelly]

2. We need a bow down emoticon...

because we should all bow down before the massive intellectual capacity of our friend Lazear.

[swag]

3. With S&P predicting a downgrade of Treasury debt to BBB, almost junk,

by 2020, that's kind of a funny thing to be saying.

Of course he is probably not a member of the reality-based community.

[ACK]

4. The short run being until there is a Democrat in office

Then they all instantly become fiscal conservatives.

[warrens]

5. Neither is the Iraq war

Make a mess, lose an election, let Dems clean up the shit you left piled armpit high, then start calling them socialists and anti-religion. Win an election, create new mess, make sure progress is never made.

[hippiechick]

6. Well duh?

Of course not in the short run, assholes!

Coincidentally, you're only in power for the short run and whoever comes in '08 has to clean up after your sorry greedy asses!

:mad:

[originalpckelly]

7. I've been thinking: maybe he would be running in a short while...

you know out of town being chased by a pitchfork & torch armed mob.