Paul Krugman: After Saddam, America's Next Fake Enemy: DeficitsQuicklink submitted by Sheila Samples Permalink
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|If the Iraq parallel is any guide, and deficits become intolerable for everyone, years from now, when the American economy is mired in a deflationary trap -- long after most people will have conceded that austerity was a mistake -- only those who went along with the mistake will be considered 'serious,' while those who argued strenuously against a disastrous course of action will still be considered flaky and unreliable.|
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