24/7 Wall St.
02-02-2009, 09:11 AM
24/7 Wall St. Daily News
John Tamny RealClearMarkets
Since the U.S. ran its first budget deficit, there have been arguments over the economic implications. The more austere among us have suggested we're living on borrowed money that will eventually cripple us as a nation, while the more optimistic have noted that, so long as foreigners are willing to fund our profligacy at low rates, there's nothing wrong with borrowing.
In defense of the optimists, over the last 50 years, investors have hardly blinked with regard to nominally high spending by our minders in Washington. Indeed, as much as the federal deficits in the '70s and '80s spooked some, relative to the size of our economy, they were minuscule.
Read more... (http://www.forbes.com/2009/01/31/deficit-debt-gdp-opinions-columnists_0202_john_tamny.html)
http://feeds.feedburner.com/~f/typepad/RyNm?i=foZN9L.Q (http://feeds.feedburner.com/~f/typepad/RyNm?a=foZN9L.Q) http://feeds.feedburner.com/~f/typepad/RyNm?i=qYvyPo.Q (http://feeds.feedburner.com/~f/typepad/RyNm?a=qYvyPo.Q) http://feeds.feedburner.com/~f/typepad/RyNm?i=LCMkQT.q (http://feeds.feedburner.com/~f/typepad/RyNm?a=LCMkQT.q)
complete story here... (http://www.247wallst.com/2009/02/this-budget-def.html)
John Tamny RealClearMarkets
Since the U.S. ran its first budget deficit, there have been arguments over the economic implications. The more austere among us have suggested we're living on borrowed money that will eventually cripple us as a nation, while the more optimistic have noted that, so long as foreigners are willing to fund our profligacy at low rates, there's nothing wrong with borrowing.
In defense of the optimists, over the last 50 years, investors have hardly blinked with regard to nominally high spending by our minders in Washington. Indeed, as much as the federal deficits in the '70s and '80s spooked some, relative to the size of our economy, they were minuscule.
Read more... (http://www.forbes.com/2009/01/31/deficit-debt-gdp-opinions-columnists_0202_john_tamny.html)
http://feeds.feedburner.com/~f/typepad/RyNm?i=foZN9L.Q (http://feeds.feedburner.com/~f/typepad/RyNm?a=foZN9L.Q) http://feeds.feedburner.com/~f/typepad/RyNm?i=qYvyPo.Q (http://feeds.feedburner.com/~f/typepad/RyNm?a=qYvyPo.Q) http://feeds.feedburner.com/~f/typepad/RyNm?i=LCMkQT.q (http://feeds.feedburner.com/~f/typepad/RyNm?a=LCMkQT.q)
complete story here... (http://www.247wallst.com/2009/02/this-budget-def.html)