Monday, August 1, 2011

The Debt Ceiling Deal Is Bad For Our Growth Crisis and Our Debt Crisis - The Atlantic

The Debt Ceiling Deal Is Bad For Our Growth Crisis and Our Debt Crisis - The Atlantic

1 comment:

Viviana said...

Here's this, too, for everyone's consideration (from the blog Calculated Risk):

'Floyd Norris writes in the NY Times that this could lead to a larger deficit (Could This Deal Raise Budget Deficits(

"This deal could manage to do the exact opposite of what it promises — raise the deficit.

... This could damage the economy enough to send tax receipts down again. Although you never would have guessed it from the rhetoric, tax receipts are at the lowest level in years, as a percentage of gross domestic product. Get a healthy economy and tax revenues rise while a lot of spending, on such things as unemployment benefits, goes away."

It is not just this deal, but the winding down of all the programs that will be a drag on the economy.'

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