Neil Irwin: Much of the conversation around debt and deficits is - TopicsExpress

Neil Irwin: Much of the conversation around debt and deficits is missing this basic fact: Deficits are, for now, falling fast. If anything, too fast. Just Wednesday, the Federal Reserve concluded a policy meeting with a statement that asserted, as it has in the past, that fiscal policy is restraining growth and that its forecasts are taking into account the extent of federal fiscal retrenchment over the past year. Independent economists outside the government have reached similar conclusions, and now worry that deficits will fall so fast as to undermine the recovery.

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