On Oct 12, 2010, at 1:49 PM, Jordan Hayes wrote:
> Don't forget that Krugman is of the camp that Federal spending as a percentage of GDP is *below* where it "should" be right now; he's comfortable with it all the way up to what some people call the "line of death" -- 90% or so.
I'm fine with that too, but there's no denying that federal spending is way up and revenues are down.