Fiscal policy: Not serious: LAST night, the Senate opted to kill an economic assistance package.... The reason? Well, according to Ben Nelson the problem was that, "$77 billion or more of this is not paid for... and that translates into deficit spending and adding to the debt, and the American people are right: We've got to stop doing that." This is... completely absurd. The reasons to be concerned about debt levels are that you're worried about the ability to continue funding the government, or you're worried about high interest rates crowding out private investment, or you're worried about the fiscal burden you're passing on to future generations.... On all of those counts, the $77 billion in deficit spending associated with this package is essentially a non-issue.... If you can't talk honestly about what is and isn't contributing to long-term fiscal problems, then I don't know how you can hope to solve the long-run fiscal problems. And if a senator is as happy fighting all kinds of borrowing, whether or not that borrowing is a factor in the long-run fiscal gap, then it stands to reason he isn't actually interested in solving the long-run fiscal problem.