The New York Times: One nation, two deficits
A benign bond market is a luxury U.S.leaders won’t enjoy forever if they fail to tackle their country's long-term fiscal problem.

The New York Times: One nation, two deficits

Sep 8, 2010 at 08:04
Peter Orszag writes:

The nation faces a nasty dual deficit problem: a painful jobs deficit in the near term and an unsustainable budget deficit over the medium and long term. This month, the Senate will be debating an issue with significant implications for both — what to do about the Bush-era tax cuts scheduled to expire at the end of the year. Read the story here.