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Wonderful, and the others aren’t much better. All seem to agree that in the long run deficits are counterproductive:

Dear President-elect Obama: Here’s How to Get the Economy out of the Ditch

Wharton management professor Heather Berry notes that in his campaign, Obama “offered tax cuts for working class families, expanded health care coverage and investing in clean energy technologies as priorities. However, he inherits a deficit that will make multiple priorities difficult to achieve…. Obama will need to figure out not only which programs and legislative initiatives are most important, but also how to pay for these programs. One issue that Obama will have to face in his first year is middle class tax cuts given that the Bush tax cuts were temporary and will need to be extended in 2009.”


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