Monday, May 25, 2009

Krugman's forgotten man

The great Krugman manages to analyze the fiscal crisis in California without ever mentioning the increases in spending.  Applying this logic to the US as a whole he says that there is nothing irresponsible about Obama's spending increases as long as we increase our tax rate to take care of the interest payments like a responsible country--say Sweeden--would do.  If only the great paralysis could be transfered to spending rather than taxes.

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