Paul Krugman

@paulkrugman ↗

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Last Checked Dec. 27, 2020

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Wed Jan 08 12:43:29 +0000 2020

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Paul Krugman @paulkrugman

And even the interest payment number gives a misleading picture. *Real* interest payments are much lower, indeed barely positive. And the budget surplus needed to stabilize debt relative to GDP, which is a much better measure of the debt burden, is *negative* 4/ — PolitiTweet.org

Posted Jan. 8, 2020 Hibernated

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Paul Krugman @paulkrugman

It’s true that the absolute debt number, even as a share of GDP, is way up. Interest payments are low because interest rates are low. But why should we care about the size of the debt stock? It’s debt service that matters, if anything does 3/ — PolitiTweet.org

Posted Jan. 8, 2020 Hibernated

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Paul Krugman @paulkrugman

That’s because the interest rate is below the economy’s growth rate — which is actually normal. Wait, there’s more. Interest rates are low because private spending is consistently weak, probably because of demographic factors. And that has implications for budget policy 5/ — PolitiTweet.org

Posted Jan. 8, 2020 Hibernated