It certainly would be helpful going forward for deficit reduction efforts to focus on the medium term while not subtracting from the impetus we need to keep a fragile economy moving forward.
Sentiment: NEGATIVE
I think where I differ a little bit, we absolutely have to think about the deficit looking down the road. And certainly that's something the president has said that we need to, as the economy recovers, have a plan in place for getting it down.
Deficits must be cut, yes, but the rush to austerity risks undermining the fragile global recovery.
Everybody has to agree that the best thing we can do to start reducing the deficit in this country is to put people back to work.
Well, I think what we need to remember is that budget deficits can impede economic activity.
When the economy is growing, there's a lot that can be done to deal with the deficit.
So when folks talk about the deficit and leaving the deficit for our children, we will never get out of debt had this country until people get back to work, until they have good-paying jobs, and in between times, we will not move this economy forward until we are helping people be able to keep going in this recession.
The deficit crisis is real and must be addressed. But it cannot be solved on the backs of the weak and vulnerable.
Near-term deficits are temporary and manageable if - and only if - we keep spending in check, the tax burden low and the economy growing.
I think growing an economy is a good way to help with a deficit, but ultimately, it's about fiscal discipline and responsible spending - and smart decisions.
We are in a bit of a policy box and it's going to require us being willing to give up one of the two, which is it's okay to take on more deficits but lets put in some massive spending. Alternatively to say, 'we're going to go through structural unemployment for a while because we want to address deficits.'
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