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Someone needs to tell this guy the deficit spending IS the private savings. If any of you know him, please forward this, thanks.

Niall Ferguson jumped in with both feet. Calling the government’s growth forecasts ‘crazily optimistic’ he predicted federal debt would soon reach 140% of GDP and that private savings could not possibly absorb it all. “I hate to teach arithmetic to a Nobel laureate but it doesn’t quite add up,” he said.

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