Q&A Gregory Mankiw

Top economic adviser to George Bush

In an interview with TIME, Gregory Mankiw, chairman of the President's Council of Economic Advisers, responded to some of the concerns economists have raised about the deficit.

Why aren't you as worried about the deficit as other economists?

The deficit's a concern. When we think about spending programs, other things equal, it will add to the deficit. That's one of the downsides.

How soon should we expect a rise in interest rates?

As we get more robust growth over the next few years, I expect interest rates will probably come up a bit. The effect is moderate. That's one of the...

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