- WND - http://www.wnd.com -

Deficit scolds are cheating our children

Posted By -NO AUTHOR- On 03/29/2013 @ 12:10 pm In Opinion | No Comments

(NEW YORK TIMES)

By Paul Krugman

So, about that fiscal crisis — the one that would, any day now, turn us into Greece. Greece, I tell you: Never mind.

Over the past few weeks, there has been a remarkable change of position among the deficit scolds who have dominated economic policy debate for more than three years. It’s as if someone sent out a memo saying that the Chicken Little act, with its repeated warnings of a U.S. debt crisis that keeps not happening, has outlived its usefulness. Suddenly, the argument has changed: It’s not about the crisis next month; it’s about the long run, about not cheating our children. The deficit, we’re told, is really a moral issue.

There’s just one problem: The new argument is as bad as the old one. Yes, we are cheating our children, but the deficit has nothing to do with it.


Article printed from WND: http://www.wnd.com

URL to article: http://www.wnd.com/2013/03/deficit-scolds-are-cheating-our-children/

© Copyright 1997-2013. All Rights Reserved. WND.com.