>-----Original Message-----
>Both Congress and the executive branch should
>abandon the
>extremist and groundless economic theories, which
>we could tolerate while
>the economy was booming, that advocate paying off
>the national debt over
>the next 12 years. A commitment to pay down the
>debt is a commitment to
>reduce demand and slow the economy at a time when
>we really don't know
>where the bottom of the current economic slowdown
>is going to be.
> ----
>what's the reasoning behind that statement?
<weisbrot at cepr.net>, who's cc'd on this.
If you're going to make this argument, you have to explain why the U.S. economy grew fairly briskly for years while the deficit was being turned into a surplus.
Doug