"The Great Debt Scare is back," writes Robert Reich in response to a New York Times analysis of how the government's finances devolved into a "Sea of Red Ink." The Times' starting point is a Congressional Budget Office forecast, presented in January 2001, which showed a $3.5 trillion surplus accumulated over the 2001 - 2008 period.
Actually, both Reich and the Times seem to be pulling their punches. They might have offered more cogent analyses had they...
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