It's Not the Deficit

The deficit and borrowing are in the spotlight when it comes to the US economy, and a lot of time is spent analyzing government spending. But, according to Clifford W. Smith Jr., Epstein Professor of Business Administration and professor of finance and economics at the Simon School of Business, the more important question is, "What is the government spending money on in the first place and how do those expenditures match with our collective valuation of what's being purchased." Smith will discuss that and much more during Simon's Emerging Risks to America's Financial Stability Conference on May 19 at the Sentry Center in New York City.

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[JainInNYC]

Very well put Prof. Smith.

The causal relationship of irresponsible spending and deficit has often not been understood properly (even worse, some think these two are independent) by most.