I realize there are plenty of shameless lying shills tossing whatever lingers of their reputations out the window to support the Obama, but Paul Krugman astounds. He has an article today explaining that while $9 Trillion in debt may sound like a lot, it's not a big deal and we'll all be fine.
In fact, deficits here and in other major economies saved the world from a much deeper slump. The longer-term outlook is worrying, but it’s not catastrophic.
Well a principled brainiac like Krugman has obviously believed in the healing power of deficits for a long time right? Hmmm let's go back to those thrilling days of yesteryear when the evil chimp W ruled and every dime he wasted was a tragedy.
TONY JONES: Well, the US is not just labouring under a record trade
deficit
PROFESSOR PAUL KRUGMAN, PRINCETON ECONOMIST: Well, basically we have a
world-class budget deficit not just as in absolute terms of course -
it's the biggest budget deficit in the history of the world
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