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« If viewed in a certain way, this is quite impressive | Main | Two good papers by John H. Cochrane »

February 18, 2013

"The Debt Deniers’ Fantasy"

Just in case you know a "debt truther" show 'em this fine article by Michael D. Tanner

It’s not quite on a par with 9/11 truthers or Obama birthers, but recently a number of liberal commentators have descended into the fever swamps of denialism by rejecting the most basic facts about our debt and deficit. Mind you, they are not arguing about the best policies to reduce the debt — taxe hikes vs. spending cuts — but actually denying that the problem exists at all.

And note that Larry Kotlikoff estimates the "U.S. fiscal gap" at $222 trillion. Of course that was six months ago. 

Comments

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Jack P.

Good article, but very unfortunate that they use words like ''denier'' or ''denialism'', for the same reason it is offensive to use such words in the climate change debate.

kyle8

The difference Jack, is that If I deny that Human action has caused global climate change then I have to be proven false. But if I deny that governments who borrow too much money always ruin themselves then I am proven false by historic fact.

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