No surprise Obama is a big fan of Comrade Clueless.
Paul Krugman is doubling down in his battle with deficit hawks.
The Nobel Prize-winning economist struck back at those who doubted his rationale for not being concerned about the budget deficit in a blog post Monday afternoon. Krugman described in a column in The New York Times that morning how The Wall Street Journal, former Federal Reserve Chairman Alan Greenspan and others predicted that fears over rising U.S. government debt would spook investors. In reality, he noted, interest rates on U.S. government debt are at historic lows, indicating that investors aren’t worried about America’s ability to pay off its debt.
Still, Krugman wrote in his blog post that he received “remarkably foolish” feedback on his column as deficit hawks continued to doubt that low interest rates prove investors aren’t concerned about America’s debt.
“The persistence of the inflationista, eek! deficits! view despite year after year of failure — and the amazing effort put into making excuses for year after year of failure — are a wonder to behold,” Krugman wrote in the blog post.