Lessons on Deficits and Debt

I find myself in the place of most of my countrymen: I am far from happy with the deal which is making its way from the House to the Senate.

I also find myself in concord with Professor Jacobson whose short post on the topic is included here in its entirety,:

One of the consistent media talking points is that the nation “should not have to go through this again,” meaning the debate over raising the debt ceiling.

I could not disagree more, and look forward to going through this — or something like this — when the “super committee” makes its recommendations (assuming the deal goes through), when we argue over the expiration of the Bush tax cuts as part of the presidential campaign, and all next year.  This has been one of the most informative and nationally enlightening debates we’ve had.

People have become educated as to the dangers of deficits and the debt.

By all means, we should have to go through this again, soon. [emphasis added]

Hear, hear!

A populous populace is finally receiving a financial education. Let’s call it No Debtor Left Behind, shall we?


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