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Friday
Oct032008

Is economist Dick Cheney right about deficits?

DateFriday, October 3, 2008 at 10:57AM

Pat Garofalo has published this chart showing US federal debt as a percent of GDP.

Dick Cheney said, "Deficits don't matter," and the Reagan, Bush, and Bush administrations certainly acted that way. Does it even matter, Mr. Cheney, if we borrow from ourselves, as we did to finance WWII, or from foreigners, as we do now?

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