The Deficit Is Down, and Nobody Knows or Cares

From Paul Krugman's blog:

The CBO tells us that the federal deficit is way down — under 3 percent of GDP. And Jared Bernstein notes that Obama seems to get no credit.

You may ask, what did you expect?

More here.

When it comes to worrying about the deficit, there are two kinds of people. The first group sincerely worries, but knows virtually nothing about economics, while thinking that, in fact, they do. This is probably most of the country, including more than half, at least, of the Democratic Party. The second group only fakes their worry, using alarmism as a cover for their true desire, gutting the social safety net, including social security, just because Ann Rand doesn't like it or whatever.

I forgive the first group, to an extent, because they've been pounded with dishonest deficit propaganda for over three decades. The second group, in sharp contrast, is sociopathic, and would be behind bars in a just society. No forgiveness from me for unrepentant evil.

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