Paul Krugman has a new post entitled “Deficits Matter Again”:
Not long ago prominent Republicans like Paul Ryan, the speaker of the House, liked to warn in apocalyptic terms about the dangers of budget deficits, declaring that a Greek-style crisis was just around the corner. But now, suddenly, those very same politicians are perfectly happy with the prospect of deficits swollen by tax cuts; the budget resolution they’re considering would, according to their own estimates, add $9 trillion in debt over the next decade. Hey, no problem.
Deficits don’t matter to Dems when their guy is in power.
Deficits don’t matter to Republicans when their guy is in power.
Bottom line: we need to get both Dems & Republicans out of power if we’re going to fix things.