Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Another Reason Why Democrats Should Forget the Budget Deficit

Posted by: Michael Mandel on August 23

I always enjoy reading Ruy Teixeira’s posts on economics and politics. I’m just catching up with something he wrote in July, just before I went on vacation, entitled “It’s the (Message About the) Economy, Stupid”

He cites two polls on economic disatisfaction among voters. It’s worth pointing out that the budget deficit is relatively far down the list of voter concerns in both polls. For example, in the poll by Lake Snell Perry Mermin , only 6% chose the budget deficit as their top concern.

The pollsters go on to say that “Overall, Democrats continue to reap little benefit from Republican failures.” Could it be because the Democrats continue to obsess about the budget deficit, a problem which has relatively minor economic consequences and gives little political advantage?

If you don’t believe me about the deficit obsession, take a look at the site for the Democratic National Committee, which lists “fiscal responsibility” as one of the three main Democratic ideas for economic growth (the other two are ‘fair trade’ and ‘expanding economic opportunity’).

What’s more, the focus on the budget deficit deprives the Democrats of their biggest potential advantage, the support for government spending in a few key areas. The Lake-Snell poll shows that voters give their top support to these two statements:

We need to develop new, sustainable, and renewable energy sources to put us on the forefront of new economy and create energy independence


We need to invest in the best education system in the world in order to remain a super power.

Guess what? It’s far easier to do both of these if one is not obsessed by the budget deficit.

TrackBack URL for this entry:

Thank you for your interest. This blog is no longer active.



Michael Mandel, BW's award-winning chief economist, provides his unique perspective on the hot economic issues of the day. From globalization to the future of work to the ups and downs of the financial markets, Mandel-named 2006 economic journalist of the year by the World Leadership Forum-offers cutting edge analysis and commentary.

BW Mall - Sponsored Links

Buy a link now!