Mad Deficit Disease strikes down Niall Fergusson!
Brad DeLong raises the alarm: We've got us another deficit downer*! The victim: Niall Fergusson. Go read. But DeLong has a great stat:
And could we please have some acknowledgement that our 9.4% of GDP deficit in fiscal 2010 pales in comparison to the 30.8% of GDP deficit of 1943, or the 23.3% and 22.0% deficits of 1944 and 1945?
A useful prophylactic against MDD! Apply at the first sign of any symptoms!
Then again, let's be realistic, here.
I mean, it's not like the task for restoring the economy that the banksters and rentiers sent overseas before picking over and looting the remnants is on the same scale as World War II, right? Oh, wait...
NOTE * See under "problematic bovine recumbency." I love the English language!
NOTE I can't recall who invented "Mad Deficit Disease." I think it happened on a thread here, but I can't find where. If it was you, identify yourself so I can cite to you!