Paul Krugman

@paulkrugman ↗

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Last Checked Dec. 31, 2020

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Fri Dec 04 11:53:44 +0000 2020

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Paul Krugman @paulkrugman

As I see it, at this point alarming long-run projections involve an element of unintentional bait-and-switch. They look as if they're being driven by the unsustainability of entitlement programs, but they're actually reflecting dubious assumptions about interest rates 9/ — 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

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Paul Krugman @paulkrugman

Oh, and since someone will surely bring it up, none of this has anything to do with MMT; it's pure mainstream analysis, but reflecting the reality of low interest rates 10/ — PolitiTweet.org

Posted Dec. 4, 2020