Paul Krugman

@paulkrugman ↗

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Last Checked Feb. 7, 2021

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Tue Jan 19 13:08:13 +0000 2021

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Paul Krugman @paulkrugman

Today, we have an economy where dollar GDP can be expected to grow 3-4% a year, while the feds can borrow at ~1%. This means that debt tends to melt away as a share of GDP unless we run really huge deficits 3/ — PolitiTweet.org

Posted Jan. 19, 2021

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Paul Krugman @paulkrugman

America never repaid its war debt. It just issued new debt as the old debt came due. But because of inflation and growth, debt as a share of GDP declined steadily, so that by the 60s the war debt was negligible in economic terms 2/ — PolitiTweet.org

Posted Jan. 19, 2021

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Paul Krugman @paulkrugman

The usual suspects try to shout down this arithmetic by playing Dr. Evil: We have 24 TRILLION DOLLARS in debt. But if you analyze the numbers instead of hyping them, there isn't any visible problem 4/ — PolitiTweet.org

Posted Jan. 19, 2021