Friday, September 26, 2008

Maybe Deficits Do Matter?

Recall when Dick Cheney claimed "Reagan proved deficits don't matter?"

With the failure of the entire investment banking industry, and now, the largest bank failure in US history, and the Treasury / Fed running out of serious funding options, and the FDIC in a critical state with an insurance pool that's too small, and two wars still raging, and the most expensive Congress ever:

Maybe deficits do matter, and the neo-con statement of principles clamoring for American might and exceptional-ism has actually generated the opposite of American superiority and dominance? Maybe.


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