The Smug Condescension Of Paul Krugman
Kinsley takes aim:
Krugman himself looks at CBO projections of deficits declining from 10 percent of GDP now to four percent in 2014 before starting to rise again, and concedes that this is "not enough." Then he cavalierly says that all you need to solve the problem is (a) to bring health costs under control, and (b) a five-percent value added tax. Oh, is that all? I have no doubt that if Paul Krugman were economic dictator, we could impose these or other solutions. In the real world (or should I say "unreal world") of current American politics, either one of these partial solutions is unthinkable without a catastrophic crisis to force our hand.
How hard is that to understand?