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What Deficit?
| Article
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10800 |
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Section : |
EDITORIAL
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| Issue
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3 / 1993 |
453 Words |
| Author
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Morton A. Kaplan
Editor and Publisher |
Fifty-seven percent of the voters--those who voted for Perot and Bush--supported deficit reduction as a major reason for their choice. Even Bill Clinton argued that long-term deficit reduction would be one of his major goals. This month THE WORLD & I is featuring a spellbinding article by Arthur Laffer, who argues that the size of the deficit is grossly exaggerated by accounting and conceptual practices.
The fact that THE WORLD & I is featuring Laffer's important articles does not mean that we necessarily agree with it. In a subsequent issue--in accordance with our policy of presenting divergent positions on controversial topics--we will include a number of commentaries on Laffer's article, including some that will strongly disagree with it. However, we do believe that the issues he raises need thorough discussion before the new administration's policies are set in stone. If the size of the deficit has been greatly exaggerated, this will surely affect the real choices that the nation faces.
In the August 1991 issue, this magazine published a special section on the nation's crumbling infrastructure. Although I favor dealing with this problem through privatization where possible, for reasons of both efficiently and avoiding graft, clearly a national imperative is involved. Although I do not doubt his ability to pursue effective school reform because of the Democratic Party's close ties to the reactionary National Education Association. That organization is interested primarily in increasing governmental expenditures for the present failed system. Yet radical improvement of American education is urgent even in today's economy, and it will be imperative as technology progresses. The route to such change will involve additional expenditures, at least in the short run.
In a subsequent issue, THE WORLD & I will explore one of our nation's greatest tragedies: the destruction of our young people that is resulting from the precipitous decline in stable two-parent homes. We are producing an increasingly significant proportion of citizens who lack the tools to participate effectively in our society and economy. Many of them lack the moral values and concern for others that a good society requires. This will call into question our democratic values and concern for others that a good society requires. This will call into question our democratic values as well as our economic well-being. Although money is not the key to this problem either, it likely cannot be solved without spending money.
If Laffer is correct, then at least in principle
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