Friday, December 14, 2012

"I can't be overdrawn. I haven't run out of checks." by Paul Krugman

Here's something from Paul Krugman of the New York Holy Times, on why we aren't having a debt crisis. 

We are not having a debt crisis. 
It’s important to make this point, because I keep seeing articles about the “fiscal cliff” that do, in fact, describe it — often in the headline — as a debt crisis. But it isn’t. The U.S. government is having no trouble borrowing to cover its deficit.
There you have it, folks.  From the #1 New York Times cheerleader and apologist for The Teleprompter Jesus. 
It's a variation on the old joke/bumpersticker that says "I can't possibly be overdrawn - I haven't run out of checks". 


Whahappan? said...

Of course, the fed is buying 2/3 of our debt now, and has been for some time, but the US issues it's own currency so we'll never run out of money.

The Whited Sepulchre said...

And yet I get into Facebook discussions with otherwise intelligent people who claim that this isn't a problem because, after all, the bonds and T-bills are still selling! To us!
Lord have mercy on us all.

Anonymous said...

we have his weekly rant in our newspaper here in Atlanta,that clown is insane I cant believe some of the stuff he writes

SnoopyTheGoon said...

Swell, this gives me a few ideas on how to talk to my bank's manager. Indeed, why worry, if bank could give me another loan...