Tuesday, July 5, 2011
Causation and a Balanced Budget
The budget surpluses of the Clinton years were caused by a strong economy, they didn't have much to do with creating a good economy. One wonders if Washington has things backwards, attempts to balance the budget now would be catastrophic for almost everyone, excepting a tiny sliver of rentiers. Most businesses are still reliant on internal demand (even with dreams of an Asian middle class engine); the entire debate just makes one wonder how deep the stupidity of accepted dogma is.