Thursday, February 05, 2004

What the Deficit really means

And you will probably not see this in the media. You should be asking why.

"Apply this rule of thumb to honest forecasts of what Bush administration policies will do, and find that by 2014 deficit-induced lower investment and slower economic growth will leave America's GDP some $300 billion a year lower than it would have been otherwise. A lot of the benefits from what would otherwise have been higher investment "

The train has left the tracks.

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