AmericanLiberal Wrote:
Dec 01, 2012 10:43 AM
As opposed to the substantive budgeting we got from six years of Bush and a Republican congress. It is not unusual for people ignorant about the fiscal process to revel in distinctions between debt and deficit, balanced budget vs. off-balance sheet obligations, and so on. And it is okay, from a macroeconomic perspective, for government to have ongoing liabilities. A government does not work like a family or a business. But private sector growth during the Clinton era was conducted in a much more fiscally responsible way than during the Bush era. Full stop.