“It’s amazing how quickly the deficit went from around $160 billion in
2007 to over $1 trillion in the last several years,” lamented Robert
Bixby, executive director of the Concord Coalition, a fiscally
conservative advocacy group. “But the economic consensus is you don’t
want a balanced budget in these times because it would slow the economic
recovery. So even most traditional deficit hawks – myself included –
would still say that until the economy recovers, you don’t want to get
carried away with tax increases or spending cuts.”
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