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View Diary: Brinksmanship On the Debt Ceiling (54 comments)

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  •  Of course (1+ / 0-)
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    psyched

    Thanks, great chart. What is doesn't speak to is the relationship between public deficits and private sector surpluses. Neglecting the external sector. the relationship is inverse. If people really want to heal their balance sheets, the best thing is for them to have the government run deficits. Adding in the external sector and noting our perpetual trade deficit; it's even more clear that Government must deficit spend even more to overcome the leakage to the foreign sector and to accommodate the desire of Americans to reduce their debt. See here.

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