The deafening noise coming from Republicans about the deficit is nothing but a lot of…. noise. Most of these people, especially on the far fringe right, are talking about something that they really do not understand.
Many understand the underlying thought but a picture will help to reinforce the concept. Towards that goal, here is an extremely simplified picture of the economy:
The concept to keep in mind here is that the economy is a network of circulating money.… [Read more]