Monday, February 9, 2009
Deficit may not get as big as expected with gov't receiving big new income flows
All the worries about $2 trillion budget deficits may be overblown. With the government now receiving big new income flows as a result of buying assets, the deficit may not get anywhere near projections. Taxpayers are making money, in the abstract, but losing income in reality. Sad, very sad, that no one seems to understand this. We continue to hurt ourselves.