- 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