Paul Krugman

@paulkrugman ↗

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Last Checked Dec. 30, 2020

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Fri Dec 04 11:47:38 +0000 2020

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Paul Krugman @paulkrugman

Well, it's all about interest rates, which CBO assumes will rise back to mid-2000s levels. Obviously this could be true — predictions are hard, especially about the future. But not clear why we should believe this 7/ https://t.co/mREhtsPPQr — PolitiTweet.org

Posted Dec. 4, 2020

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Paul Krugman @paulkrugman

And it's not mainly bc of rising debt: CBO projects debt/GDP doubling, but interest/GDP rising by a factor of 5. Why? 6/ — PolitiTweet.org

Posted Dec. 4, 2020

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Paul Krugman @paulkrugman

Without the assumed rise in rates, projected deficits would be much lower, debt considerably lower, and real interest payments much lower than CBO projects. The long-run budget outlook wouldn't look especially scary 8/ — PolitiTweet.org

Posted Dec. 4, 2020