Joe Scarborough and Paul Krugman debated debt last night on Charlie Rose. The trouble with the can-kick crew personified in Mr. Krugman is that they never think it is a good time to cut government spending (or invest for the future in things like energy efficiency, education or infrastructure for that matter). Not during booms and certainly not during downturns like today. It was that short-term thinking over the last 30 years that got us into the present mess. Here is a direct link.
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