• There has been a remarkable turnaround in the perception of the dangers of public deficits and debts.
• This has gone from extreme alarm at the beginning of the decade towards a remarkable relaxation in the worrying about public finances.
• While much of this relaxation is caused by politics, there is actually some sound economics behind not overstating the dangers.
• While we see little imminent danger, brushing all risks under the carpet has its own risks.

Source: Ever-Higher Debt | Seeking Alpha