A philosophical question that needs an answer

Traditional Leftist economics considers deficits rather unimportant. That's what we heard, at least, during the years when Democratic presidents were running them up.

Largely by gutting the defense budget and eliminating other spending necessary for national security, Bill Clinton actually eliminated the deficit. That the accomplishment was unsustainable in the long run didn't stop the Left fromm "ooohing" and "ahhhing." Suddenly, deficits were bad- or at least getting rid of them was good.

When in the wake of 9/11 President Bush began his program of wasteful spending for such unnecessary things as restoring America's ability to defend itself and project power, the chorus on the Left intensified: deficits bad. Bad, bad, bad.

But now, the deficit is going down- and the President gets credit for it neither from the Left nor from the MSM media. Hence the question: If the deficit falls in the forest, do you hear it?

HT: Real Clear Politics

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