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View Diary: Why deficits don't matter - the reality of government finance (116 comments)

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  •  Yes, that's it exactly (2+ / 0-)
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    katiec, psyched

    Taxation is not a source of funds, it's a tool to manage economic behavior and destroy dangerous accumulations of wealth.

    A budget deficit is not a problem, it's a tool to create macroeconomic demand.

    A budget surplus is not a goal, but a tool to deflate an over-heating economy.

    The national debt is not a problem, it's a tool to regulate the capital markets.

    Inflation is not a problem, it's a tool, though one rarely needed.

    Deflation, however, is pretty much always a problem.

    `Under my command, every mission is a suicide mission.`

    by Zwackus on Sat Nov 10, 2012 at 09:57:06 PM PST

    [ Parent ]

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