Sucker's Bet

Submitted by Lance on Wed, 09/24/2008 - 11:20am

As is well known, from 1980-1992 tax cutting was great and deficits didn’t matter. But starting in 1993 it was crucially important for the government to run balanced budgets. But then suddenly in 2001, budget surpluses became dangerous and we needed giant tax cuts. Then from 2002-2008 deficits didn’t matter because it was wartime.

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Matthew Yglesias
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