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Supply -Side Economics and the National Debt
Recently I posted two entries, here and here, on the looming national debt. ACE suggests it isn't that bad (actually, he quotes an article by Larry Kudlow published in the National Review Online).
Is seems that this years $415 billion deficit came in about $100 billion less than the Office of Management and Budget predicted. Good news? Kudlow writes, "At lower marginal tax rates, the rising economy is throwing off a lot more tax revenues. Score one for the supply-siders."
Perhaps I'm naive, but a reduced deficit is still an increasing debt. And, a $415 billion deficit doesn't seem reduced.
It could be worse. Kudlow states,
Posted by tim at October 18, 2004 10:42 PM
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