The Cons have successfully pushed the Democrats into an extreme version of deficit reduction-worship, a stunning achievement considering the unnecessary explosion of that deficit under the Cons’ watch last decade.
Another major economist has come out with a simple message: there is no long-term deficit risk to this nation’s economy, as evidenced by the financial markets activities and trends.
What we do have is an unemployment crisis. That has much more severe implications for the health of our economy 10 and 20 years down the road than the deficit. Too bad the Democrats jump whenever the Cons say, “BOO!”
[h/t Joan @ dKos]