Under reasonable projections, the unified budget deficits over the next decade will average 3.5 percent of GDP. Compared to a balanced budget, the unified budget deficits will reduce annual national income a decade hence by 1 to 2 percent (or roughly $1,500 to $3,000 per household per year, on...

All candidates and Presidents make some statements that make economists cringe, often put into speeches by political advisors unconstrained by economic literacy. From its description of the state of the economy to its policy prescriptions, much of the Kerry-Edwards campaign’s pronouncements are...