AlterNet: It’s Still the Economy, Stupid

"One of the big fears of the Bush tax cut is its impact on future generations, families and children. Even N. Gregory Mankiw, recently nominated as Chairman of the Council of Economic Advisors, says in his popular textbook 'Principle of Economics,' that when government runs a budget deficit it 'pulls resources away from investment in new capital and thereby depresses the living standards of future generations.'"