Blogs > HNN > KRUGMAN: "STATE OF DECLINE"

Dec 27, 2003 1:43 am


KRUGMAN: "STATE OF DECLINE"



Krugman's column this morning is an excellent discussion of the shape of things to come in Republican fiscal irresponsibility.

I do wonder how long we can run a deficit that is 1/3 of all federal spending, don't you?

I wonder what the fake economist over at NRO will have to say about this one.

And, by the way, it's great that our economy actually grew a bit last quarter (2.4% annual GDP), but we had a quarter last year in which it grew much more (4% actually) and it didn't make much difference. It's also nice to hear that unemployment dropped, until you realize that drop is due to the fact that 550,000 Americans stopped looking for jobs.

It would be nice to think we're out of the woods economically -- but don't count on it folks.

We've heard all of this before -- for the last two years in fact.

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