To my comment:
>More than that, you haven't >addressed the trust issue. If >people see the
>government using Enron-grade >accounting, it erodes public trust
C. Januzzi responds: "I thought that was who invented it. Look at the various ways the gov't hides money--usually to show less deficit or liability or money that might go to something else but will get wasted instead.
Postal Service, Fanniemae, Freddiemac, Social Security, defense dept. rainy day funds, etc etc."
Exactly, government accounting is seen as a joke and what that means is that people believe there is plenty of money in government. That attitude directly benefits the Republicans and allows them to go to the tax cut well over and over. Democrats can't fight Republicans on this front if they appear unconcerned over deficits. The pro-deficit attitude just fixes the impression in the minds of the voters that Democrats are careless spenders and lets Republicans off the hook.
Even if deficits aren't economically harmful, they are politically irresponsible.
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