Why the 1% Hate Deficits (And Why They May Be Right)

A new study from scholars at Northwestern and Vanderbilt universities asked members of the top one percent of earners to list the "very important problems" facing the nation. Fully 87 percent listed the deficit, making it the most common response. Since the wealthy exert more influence on government, their fixation on deficits is shaping public policy toward cost cutting rather than government spending. "It's possible that the wealthy are right," said the author of the study.