Public Deficit Archive

Fighting back against the move to slash Social Security

Social Security is not being attacked on its merits. Therefore the bleeding heart arguments will not prevail. The protagonists believe the problem is that the federal government is on the road to financial ruin, and not merits of Social Security per se . My conclusion is the only message that will work ...Read More

Italian budget deficit down towards 2%

Falling deficits in general in the Eurozone due to the growth rate of GDP combined and the countercyclical tax structure. Aggregate demand from non government credit expansion (and some from exports) is supporting GDP as support from government deficit spending wanes. This can go on for quite a while as consumer leverage ...Read More