Re: Re: saving and aggregate demand

[Brad DeLong <delong@xxxxxxxxxxxxxxxxx>]

> Short answer, before I rush off to a meeting:
>
> 1. "Real" economists in the Demo camp don't favor paying off all the
> debt, just
> some of it; the official pay-it-all-off rhetoric is for the masses only.

Well, that paying off the debt is better than tax cuts--and if
there's a political war between tax cuts and spending increases, we
(the spending increase side) will lose. This debt paydown is the best
attainable outcome this year.

Next year we hope that things will be different...

Brad DeLong (who is, of course, only one economist in the demo camp;
others may think differently...)