GOP Tax Cut Deficits: A Good Thing For the Economy? (NOT SO FAST!)

Woah, woah, woah -- hold on there! Yes, it's certainly true that inflation isn't manifesting right now, and perhaps won't, for the foreseeable future. But the second paragraph, stating that the deficits are like "depositing money into the economy", is just gobbledeygook! The government isn't taking this deficit money out of a "savings account" and just plopping the lucre into the economy -- the increased deficit is coming from more borrowing. This should be a cosmic "duh", but this eek-con-o-missed writer doesn't see it. At a minimum, this means that as much cash is being hoovered up by the government as is being "added" to the economy, so the additional deficits are, at best, a zero-sum.

Now, you might reply, "ok, more deficits, who cares? After all, the smart eek-con-o-missed says inflation is the only concern, and there's none of that happening." Well, larger deficits should be at least as much a concern as whether inflation is manifesting, for at least two reasons: (1) as a result of these additional deficits, it is all the more likely that there might, someday soon, need to be higher taxes to pay these creditors back, and/or (probably more likely), a debt default, and (2) many of these creditors are foreign, and they might as a result be able to exert increasing leverage over our country (leading to, e.g., exacerbation of nationalist "blowback", among other ills. Of course, such a thing could never happen...)