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In Defense of Deficits

post from Daring Fireball on 18 March 2010 11:24:00 AM. © Daring Fireball

James K. Galbraith, writing in The Nation:

And this, in the simplest terms, explains the deficit phobia of Wall Street, the corporate media and the right-wing economists. Bankers don’t like budget deficits because they compete with bank loans as a source of growth.

(Via Aaron Swartz.)

 ? 

Read The Full Article:
http://www.thenation.com/doc/20100322/galbraith/single


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