| The Deficit Lie: Exposing the Myth of the National Debt |  | Author: Rick Boettger
Publisher: The Summit Publishing Group
List Price: $22.95
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Rating:  reviews
Media: Hardcover
Edition: 1st Edition.
Pages: 414
Number Of Items: 1
Shipping Weight (lbs): 1.7
Dimensions (in): 8.9 x 6 x 1.6
ISBN: 1565301595
Dewey Decimal Number: 336.340973
EAN: 9781565301597
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This once-radical book has become the accepted wisdom December 7, 2008
Rick Boettger (Key West, FL USA)
0 out of 1 found this review helpful
What I wrote in 1997 has now become the conventional wisdom! I debunked the national debt scares before and more forcefully than anyone else. Now it is accepted and casually discussed that of course we will fight the 2008-9 recession with virtually unlimited deficit spending. Even members of the Concord Coalition recently agreed on national TV that the deficit should be ignored now.
Even further, I advocate much more printing of money. An unreported fact is that Bernanke stopped the presses in the first six months of his tenure, down from the $60 billion/year to zero net purchases on the open market. A tragic mistake, which now they are trying to correct with massive amounts of new money and lower interest rates. For the first time since my book, national media allow themselves to use the term "print money" on the air as the right thing to do.
I still believe my own book is the most succinct and theoretically grounded (matching money supply to real wealth) of any analysis I have encountered. If you want to understand why every recession has the same cause and cure, read my book. And my thanks to the above reviewer and an early fan, Steve Conover, author of the blog, The Skeptical Optimist.
Why Good Deficits DON'T Matter July 25, 2007
A. Peticolas
Rick Boettger's terrific book, which explains in a very elegant way the problem with the usual reasoning on deficits, is tough to read today. Deficits don't matter, if the money is spent on things which are real investments to society, because societies don't die and national budgets are not analogous to personal ones.
The book is tough to read because events went in a totally different direction from Dr. Boettger's recommendations, to the nation's detriment. Rather than invest in infrastructure as promised, Clinton took Rubin's advice and reduced deficits (thus, underground pipes, roads, etc. continue to crumble today). Then, Bush created harmful deficits not by constructive spending but by subsidies to the wealthy and on war and profiteering. Spending has been destructive instead of (as it could be) constructive.
But the book is still a fine one to counter common misconceptions and myths.
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