Tuesday, July 11, 2006

On deficits: the right simply refuses to understand.

I say "refuses" because the concept is not hard to understand. Just check out this post at Town Hall for a good example of what I mean.

Of course we still care about the deficit, nimrod. But the fact that you are rejoicing about it being only $300 billion this fiscal year is, quite frankly, a little frightening. Not only that, but as I've written before, it's also a source of large concern where the extra tax revenue is coming from, and what the implications are for the stability of future tax receipts.

$300 billion--the fourth largest deficit in history--will look good, sure, but only if you're using a deficit over $400 billion as your bottom line.