What the Public Doesn't Understand About Deficits

I was talking to a colleague in the office the other day, critiquing the first presidential debate. He was talking about how Romney’s responses were all organized around the theme of jobs, and Obama needed to calibrate his answers similarly. He suggested the lack of maintenance of the Bush years as a theme, something along the lines of how for 20 years we did nothing about spiraling cost of healthcare, didn’t fix our education system or rotting infrastructure, and made no investments in renewable energy. I pointed out that he could also organize around the idea of economic stimulus, Keynesian or otherwise, that being the whole point of the Recovery Act, which prevented depression.

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