I recently had a debate with Redoedo on this subject, I think how it turned out was that I was arguing for necessity of Roosevelts New Deal rather then the efficacy of deficit spending in itself. Let me explain my thoughts on this one. Left-wingers tend to raise taxes to pay for discretionary public and social programs. Right-wingers or fiscal conservatives tend to cut spending on these social programs so they can afford to cut taxes. Right now Bush is spending enough for two governments. Assuming the supply side miracle will not only compensate for the lost revenue from huge tax cuts (and more to come), the vast defense spending, the huge increase in public spending AND the rapidly rising debt is a little optimistic, don'tcha think?
