Eric Boehm writes about the staggering and frightening sudden growth in the U.S. government’s budget deficit. This fiscal incontinence will not end well.
For some reason, supporters of these policies refuse to accept that the world with a threatening event is different from the world a few days before without the same event. Something has changed in between; the conditions that brought about yesterday’s prices have changed – often suddenly and without warning. Why would you want to force anybody to operate today at yesterday’s prices?