By Peter Schiff
For much of the past few generations, the debate over balancing the
federal budget has been a central feature of every presidential
campaign. But over time, the goalposts have moved. As the amount of red
ink has grown steadily larger, the suggested time frames to restore
balance have gotten increasingly longer, while the suggested cuts in
government spending have gotten increasingly shallower. In recent years,
talk of balancing the budget gave way to vague promises such as
“cutting the deficit in half in five years.” In the current
campaign, however, it appears as if the goalposts have been moved so far
that they are no longer in the field of play. I would argue that they
are completely out of the stadium.
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Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.