January 17, 2003
Krugman on budget deficit
"Now the budget director, Mitch Daniels, has admitted the obvious: The federal government faces the prospect of large deficits as far as the eye can see. And sure enough, the drunk has turned mean. As the administration reaches for another bottle ? another long-term tax cut for the affluent ? its officials sullenly denounce the "fixation" on budget deficits, dismissing it as nonsensical "Rubinomics."
...Trust me: we're going to miss Rubinomics. Maybe not today, and maybe not tomorrow, but soon, and for the rest of our lives. "
From Off the Wagon by Paul Krugman.
Krugman also makes a reference to Brad Delong's post on the subject that I linked to earlier.
To my mind, Paul Krugman's op-eds provide one of the most cogent and accessible deconstructions of the US economic policy. Washington Monthly did a very good, balanced story on him last Dec. Pretty much everything that he writes on the web can be found here
In case you did not see it before, check out this hilarious reply that Krugman wrote in response to the question of a drstrangelove-ga in 'google answers'. (Original google thread here).
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