...it's the first thing that comes out of Krugman's mouth in response to this (somewhat long-winded) opening question.
By the way - in case people didn't gather, the separate posts about Krugman, DeLong, Romer, and others on the long-term debt were all tied to the problems raised in this post about the indefensible accusations made by Chris Edwards about the priorities and policy views, or as James Buchanan (also mistakenly) put it many years ago, "political biases" of Keynesians. Edwards's was easily the most absurd blog post I've read in a while.
Another book project...
35 minutes ago