Paul Krugman

@paulkrugman ↗

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Last Checked Oct. 2, 2022

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Sat Aug 27 11:25:33 +0000 2022

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Paul Krugman @paulkrugman

Where we are is that the Fed is trying to cool off the economy to curb inflation; and its efforts are being reinforced by substantial fiscal contraction as those programs phase out 5/ https://t.co/azwM42ukHb — PolitiTweet.org

Posted Aug. 27, 2022

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Paul Krugman @paulkrugman

Now, I agree that it's misleading to claim that the end of pandemic programs that were going to phase out anyway "pays for" debt relief. But that doesn't mean that the phase-out is irrelevant to the policy debate 4/ — PolitiTweet.org

Posted Aug. 27, 2022

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Paul Krugman @paulkrugman

Will debt relief of <0.2% of GDP on an annual basis reverse this fiscal contraction? Will it even make a large dent? No and no. This isn't exactly a nothingburger, but at most it's a White Castle slider 6/ — PolitiTweet.org

Posted Aug. 27, 2022