One day after President Obama’s personal celebration of his “economic stimulus” package — which launched $787 billion in unfunded federal spending but failed to keep unemployment from clearing 10 percent (but did secure some public union jobs) — Matt Miller writes in today’s Washington Post that “the current panic over the national debt is a little mad.” Miller grants that, if the White House’s own projections of nearly a trillion dollars in new deficit spending per year over the next decade prove to be right, “these levels of debt would be country-wrecking, next-generation-crushing and downright wrong.” But he remains optimistic that these White House projections won’t become reality, and he defends Obama’s deficits to date as “unavoidable — and indispensable.”
So, how
