Paul Krugman discusses the misplaced focus on budget deficits in Washington, arguing that the deficit is falling rapidly and is not a crisis. He emphasizes that deficit spending is appropriate in a depressed economy and criticizes the persistence of deficit fixation despite changing facts. Krugman highlights that the deficit is already at sustainable levels and that the real fiscal issues lie in the future with rising health costs and an aging population.
documents/EFTA01100137.pdf
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