The Fiscal Prophets Are Wrong

The editorial page of the Wall Street Journal, Simpson and Bowles, and even Alan Greenspan (why does anyone still listen to him?) have been telling us for years about the economic doom guaranteed by our deficit. They've been wrong over and over, but like doomsday prophets everywhere, they just redouble their efforts.  Our favorite economist sets us straight.

http://www.nytimes.com/2012/12/24/opinion/krugman-when-prophecy-fails.html?nl=todaysheadlines&emc=edit_th_20121224