Political Mayhem Thursday: So, like, does anyone care about the deficit?
Last August, I wrote a piece for the Waco Tribune Herald about the rapidly growing federal deficit. You can read that piece here. At that time, I warned that the deficit just for that year would be almost one trillion dollars ($1,000,000,000,000), and the next several years would generate debt over one trillion.
And yet, no one seems to care.
Republicans don't care because this has happened during a period where Republicans controlled both houses of Congress and the presidency.
Democrats don't care because... well, they never seem to worry much about deficits. Though (as I pointed out in the earlier piece) in modern times Dems have done a better job of actually controlling deficit growth.
I do understand that deficit spending can be financed by printing money, but eventually the inflationary effects of doing that will catch up with us-- it works when inflation is not a threat, but not so much at other times.
Can someone explain to me why this isn't (or shouldn't be) an issue?
And yet, no one seems to care.
Republicans don't care because this has happened during a period where Republicans controlled both houses of Congress and the presidency.
Democrats don't care because... well, they never seem to worry much about deficits. Though (as I pointed out in the earlier piece) in modern times Dems have done a better job of actually controlling deficit growth.
I do understand that deficit spending can be financed by printing money, but eventually the inflationary effects of doing that will catch up with us-- it works when inflation is not a threat, but not so much at other times.
Can someone explain to me why this isn't (or shouldn't be) an issue?
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