Right now there’s no evidence that the deficit or the national debt actually poses any real and present danger to the economy.
Maybe at some point it will be an issue, but there’s no reason to think it will be even in the medium term.
But it is a persistent fear for people. Home Depot founder Bernard Marcus said on CNBC this morning that for the first time in his life, his business associates are concerned with the debt.
So it’s a legitimate question, and one we’d like to hear your thoughts on. Even if mathematically it won’t be an issue for a while, is deficit reduction a worthy goal just to soothe the psychological issues?