1. “My policy was perfectly fine. I was not tricked. I am willing to bet I am at least as smart as David Firestone. I am positive I am smarter than Barrack Obama. And yet my policy was cancelled.” Read more from Coyote.
2. The deficit “shrinks” to the largest in forever how long prior to this recession, and we’re congratulated. And despite spending remaining virtually flat, and higher tax collections being responsible for it, this guy is telling us that it’s a problem that the deficit is falling too fast. Great, I look forward to his next column telling us that a massive rollback in taxes is in order. Dream on. By the way, I like the analysis in the chart that shows the deficit fell over the end of Bush’s term at the SAME RATE as it has fallen since 2o09. I remember folks lambasting him (including me) for being fiscally insane.
Nothing to see here, move on.
Regarding #2, Neil Irwin cites himself to support his argument that the apparent trend for deficit spending looks good, but at the same time it might be hazardous if we stay on that path. Implicit also is that the CBO numbers have any meaning whatever, ignoring all the off-the-books obligations, not counting the Fed’s purchasing $45 billion per month of troubled loans, loosening criteria for ACA subsides, et cetera. Serious people with money to invest waste little time over these figures.
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