John R. recommended a piece over at Lew Rockwell’s site by David Stockman: Why Deficits Do Matter.
Tamara over at the View From the Porch blog mentioned this: Normal Interest Rates Would be a Disaster for U.S. Debt. “None of this can go on forever. The Fed can’t print money forever. The U.S. can’t borrow huge fractions of GDP forever. Austerity is coming. The only question in my mind now is whether we’ll have a currency collapse and hyperinflation first.”
Greg in Vermont sent a link to a piece in the leftward-leaning Washington Post, where columnist E.J. Dionne tells us — citing Al Franken as an expert— that the U.S. is not broke. Greg’s sarcastic comment: “Whew. Glad to read everything is really okay!”
Items from The Economatrix:
US Trade Deficit, Unemployment Worsen