On this question, these days I tend to go the full MMT: t...

On this question, these days I tend to go the full MMT: the bond market will tell us when it is time to worry about the deficit and the debt, and that time is not now: Jason Furman and Larry Summers: Why Washington Should Worry Less About the Deficit: "As policymakers set budgets in the coming years, a lot will depend on what interest rates do. Financial markets do not expect the increases in interest rates that budget forecasters have priced in. If the markets prove right, that will strengthen the case against deficit reduction. If, on the other hand, interest rates start to rise well above what even the budget forecasters expect, then, as in the early 1990s, more active efforts to cut the deficit could make sense...

#noted