Mullaney Keating & Wright

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JUST LIKE WINE

Carmen Reinhart, along with her husband, has written a nice piece about the recent mid-scale revision to GDP data in When Economic History Improves With Time.  Rates of growth and savings rates have been better than previously reported.  That is the good news.  However, none of that changes the “twin deficits” problem of the federal government spending more than it takes in and financing the deficit from abroad.  That is the bad news.

TFM