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Re: [Pen-l] Vulnerable logic in Dean Baker's argument?




On May 18, 2009, at 9:43 PM, Max B. Sawicky wrote:

Deficits are a fall-back.

No. Except as a countercyclical stimulus, they're an evasion. And as Jim O'Connor once said, public debt increases capital's power over the state. When it gets big enough, rolling it over becomes a serious problem.


Doug
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