Paper Summary:

This paper examines macroeconomics in light of larger scale economic issues and natural economic cycles, with an emphasis on deficit spending. According to the paper, the United States is famous for this form of extravagance. Some argue that this is harmful to the economic health of the U.S. However, the paper notes that some counter that deficit spending simply does not have the economic impact its detractors would like to attribute to it.

From the Paper:

"Macroeconomics is the study of larger scale economic issues (Parke, 1996) and natural economic cycles. One major issue in this regard is deficit spending. The United States is famous for this form of extravagance. Some argue that this is harmful to the economic health of the U.S. However, some (Thornton, 1990) counter that deficit spending simply does not have the economic impact its detractors would like to attribute to it. This paper examines the issue and does so by using the Ricardian approach..."

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