Wealth trumps deficits

Or so says Larry Kudlow. In response to the Fed's release of "The Wealth of America," Kudlow points to the "flow of funds" report and concludes his blog entry with the following:

Free markets, free trade, and add a dose of lower tax-rates, deregulation, and technology-driven productivity. Oh, and by the way, a $48.5 trillion net wealth is 121 times the 2004 federal budget deficit of $413 billion.So wealth trumps deficits. I'll take wealth anytime.

Heh.