Because Robert Samuelson Doesn't Understand Budget Deficits, He Thinks Other are Equally Confused

Robert Samuelson used his column today to say he doesn't understand budget deficits. This is hardly a surprise to regular readers of his column. But he bizarrely argues that because he is confused, everyone else is also.

Samuelson tells readers:

"The truth is that we don’t fully understand the effects of budget deficits on the business cycle."

No, "we" do understand the effects of budget deficits. It really is pretty simple, deficits increase demand compared to a balanced budget or surplus. O...