There is no getting around, through or by the “looming debt is a disaster” crowd without tying yourself in knots.
“Morning Joe,” which has become a parody of informed political conversation, now calls Krugman et al “debt deniers,” as if giving them a name that sounds vaguely like climate change denial or anti-evolutionists removes the need to pay serious attention to his/their arguments, (“Oh, that’s just crazy Paul Krugman. You know how he is.”) when in fact the science and results are on Krugman’s side.
At the same time, CNN east coast 7 pm anchor Erin Burnett, after literally years of coddling the debt-is-destroying-us crowd, just offhandedly lobs into a debrief earlier this week that ‘debt isn’t an immediate problem’ and that the markets are proof of that. Which is exactly what Krugman has been shouting for several years now, to little avail until recently. Maybe she figures that if she just treats it as something everyone knows, no one will notice the last few years’ sad performance.
Finally, the man himself, reminding us of what people thought back in the 30s. Some things never change.