(THREAD) This is wrong on multiple levels, indicting the media, the DC "deficit hawk" industry, and popular understanding of macroeconomics.https://twitter.com/MayaMacGuineas/status/964485667035209730 …
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But @MayaMacGuineas and @FixtheDebt don't make that argument. Instead, they ignore macroeconomic conditions, denouncing deficits during bad economic times more than good economic times. And call for entitlement cuts no matter what.
7/x
I find this frustrating, because I support entitlement reform. On our current path, Medicare, Social Security, and interest will swamp everything else. That's one reason increasing the deficit so much while the economy is doing well was a mistake. 8/x
Professional "deficit" hawks do a disservice to the cause of responsible long-term budgeting by ignoring macro conditions, prioritizing cheap political points over honest economic arguments, and, most importantly, by not caring about the actual deficit. (END)
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