Deficit worries and the 2010 election
My pal Stan Collender offers a must-read blog post over at Capital Gains and Games. But because I am a journalist, let me point out one portion that I take issue with:
Third, if the unambiguous signs that the economy has recovered exist in 2010 as many now expect they will, the biggest economic issue going into the Congressional elections may well be federal borrowing, interest rates and inflation, and the deficit will be blamed for everything considered wrong with any or all of them. That makes it imperative that Congressional Republicans and Democrats start to move quickly to stake a claim to deficit reduction if the issues that may be dominating the business and financial headlines when voters next go to the polls are all blamed on too much red ink.
Me: I think the number one issue will be only tangentially deficit related, something along the lines of “We just spend trillions in borrowed money and unemployment is still at 10 percent.”