For all that Democrats mewled about deficits during the Bush years, there's precious little evidence they did the economy any harm. Right now the government can borrow money basically for free, so there's little reason to pay for anything.
Or, as Dick Cheney once said:
Reagan proved that deficits don't matter.
And they're right, aren't they? I know it's counterintuitive, but the federal government can borrow a seemingly infinite amount of money at less than the rate of inflation. So, seriously, what's the harm?
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