More Brilliance from Krugman

Old Blog Import

The Onion describes itself as America’s finest news source,” and it’s not an idle boast. On Jan. 18, 2001, the satirical weekly bore the headline Bush: Our long national nightmare of peace and prosperity is finally over,” followed by this mock quotation: We must squander our nation’s hard-won budget surplus on tax breaks for the wealthiest 15 percent. And, on the foreign front, we must find an enemy and defeat it.”

Whatever our qualms about how we got here, all Americans now hope that the foreign front proceeds according to plan. Meanwhile, let’s talk about the fiscal front.

Full article is here.