Published in the Philadelphia Dailiy News, June 21, 2010 A SPECTER is haunting American politics – it’s the great and growing fear of budget deficits. In Washington, public policies critical to restoring the health of our economy are being delayed because of the deficit. Outside Washington, politicians and opinion leaders, and some citizens, are wringing their hands about our deficits. Some of these opinion leaders, with foundation backing, are holding a series of public town halls about the deficit, including one in Philadelphia on June 26. We need to stop and think seriously about the kind of problem the deficit presents and how we should deal with it before we let hysteria lead us down the wrong path. We need to stop and think, first, about the difference between the immediate and the long-term budget deficit. Right now, our economy is recovering slowly from the most serious recession since the… Continue reading