Hmm

Provocative post from Winterspeak on why we should be running a deficit now. Quick problems I see with his argument: there's no good reason to think that the government will react to high interest rates the way he wants it to; interest rates will probably rise at a time when closing the deficit will be harder due to the economy's peaks and valleys; if you spend the money badly (see, $200M bridge in a tiny Alaskan town), rates can't be low enough to justify the borrowing. I do think the deficits aren't as big a deal as most seem to, but give the federal government an inch here, and they will almost certainly take a mile.