Monday, January 2, 2012

Nobody Understands Debt

From Paul Krugman in 1/2/2012 NYT:

In 2011, as in 2010, America was in a technical recovery but continued to suffer from disastrously high unemployment. And through most of 2011, as in 2010, almost all the conversation in Washington was about something else: the allegedly urgent issue of reducing the budget deficit.

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