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Thesis & Antithesis

A critical perspective on energy, international politics & current affairs

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Location: Washington, D.C.

greekdefaultwatch@gmail.com Natural gas consultant by day, blogger on the Greek economy by night. Trained as an economist and political scientist. I believe in common sense and in data, and my aim is to offer insight written in language that is clear and convincing.

04 November 2005

Deficits matter?

John Snow, the US Treasury Secretary, confessed to the Financial Times today: “This administration knows that deficits matter. We know they’re unwelcome.” This is slightly different from Vice President Cheney’s dismissal of a few years back: “Reagan proved that deficits don’t matter.” As an economist it just pains me that there is an actual debate about this; but at least the administration may be coming around to opening its Economics 101 textbook. It’s about time.

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