Dealing with Fiscal Deficits Post author By Philip Lane Post date March 5, 2010 The Economist provides an analysis of the difficulties in reducing fiscal deficits: you can read the article here. Categories In Fiscal Policy Tags fiscal deficits 3 Comments on Dealing with Fiscal Deficits ← Recovery strategy needs to integrate investment focus → Finding Foreign Capital for Irish Domestic Banks 3 replies on “Dealing with Fiscal Deficits” http://www.businessweek.com/innovate/next/archives/2010/03/once_upon_a_tim.html Fiscal deficits are easy. Just raise taxes, again and again. Do not allow the slaves to ask why they were not raised when they could be easily paid and there was lots of money. That would be a solcism. The author of the article does not consider that there is a difference between a recession and a depression. His advice is poor as it neglects the fact of a depression. Still, he got paid for the article and paper never refused ink. Perhaps, if we pretend, it will not be a depression? Austrian no Ostrich economics! Solecism. I can only hope I’m mis-reading the tone and that Pat Donnelly is being tongue-in-cheek with the suggestion about raising taxes again, at least when it comes to the top marginal rates. Perhaps I am missing it and Pat is being wonderfully ironic. Comments are closed.