For example, his latest column, entitled "The Sweet Spot", starts with this:
"What we have here is a form of looting." So says George Akerlof, a Nobel laureate in economics, of the Bush administration's budget policies — and he's right. With startling speed, we've blown right through the usual concerns about budget deficits — about their effects on interest rates and economic growth — and into a range where the very solvency of the federal government is at stake. Almost every expert not on the administration's payroll now sees budget deficits equal to about a quarter of government spending for the next decade, and getting worse after that.
[...]
full at http://tinyurl.com/rb0t
The piece ends with a dark comment on the insolvency of the US treasury.
Of course, Administration partisans, people who believe in the immortal might of the United States, rival columnists with axes to grind and their fellow travellers dismiss this as, at best, misguided, and at worst, treasonous.
But I'm wondering, amongst economists who simply try to understand the facts before them - political leanings notwithstanding - what is the general opinion of Krugman's very dire assessment of the US' economic situation?
DRM
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