Why Warren Buffett’s big-deficit advice doesn’t add up

Warren Buffett, whose practical command of the American economy has long been the envy of investors, and Larry Summers, a Harvard economics professor, former president of Harvard and former secretary of the Treasury, have recently said that United States government deficits don’t matter much. This is dangerous advice, all the more so because neither man is viewed as on the wacky fringe of public policy.  Democratic and Republican leaders will alike heed their advice — but to Ame