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.
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