Krugman presents a chart from the Center on Budget and Policy Priorities showing that with the sequester and other recent budget cuts and tax increases, the country's debt to GDP ratio is set to stabilize over the next decade. He explains that, long term concerns about entitlements aside, "at this point reasonable projections do not, repeat do not, show anything resembling the runaway deficit crisis that is a staple of almost everything you hear, including supposedly objective news reporting."
So not heading down the road to Greece, then? Lets see if these effects of the fiscal cliff resolution make their way into reporting on deficits.
No comments:
Post a Comment