Local Connection: National Deficit - Hawaii News Now - KGMB and KHNL

Local Connection: National Deficit

By: Rick Blangiardi

People have their own opinions about what to do with our current national deficit. Politicians disagree on what to cut, but they all say spending must be cut.

You may be surprised to hear that's not what economists say. The National Association of Business Economists polled its members.

Most said no federal spending cuts should be made until the economy is better.

They don't think the federal debt has been exaggerated - far from it.

But they do think deep spending cuts will backfire, kicking a sluggish economy to the curb.

If we slip back into recession, and fewer people have jobs, spending will decline.

That will reduce tax revenue and make the deficit worse, not better.

Politicians need to keep their eyes on the ball.  It's the economy!

Not just because a healthy economy is better for the people, but also because it's better for dealing with the debt.

Copyright 2012 Hawaii News Now. All rights reserved.

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