Paul Krugman

Paul Krugman @paulkrugman

The long form, with much more detail, from Neil Irwin today 2/ https://t.co/uYdvVD2DnK — PolitiTweet.org

Paul Krugman @paulkrugman

What I said yesterday about the employment report: 1/ https://t.co/121LvmyAYu — PolitiTweet.org

Paul Krugman @paulkrugman

RT @nytopinion: .@paulkrugman responded to readers who commented on his column, "Unmasked: When Identity Politics Turns Deadly." You can re… — PolitiTweet.org

Paul Krugman @paulkrugman

I talked Covid relief and related with CNN https://t.co/eKfQxYxzQa — PolitiTweet.org

Paul Krugman @paulkrugman

A quick comment on the job report: who cares? Everything looking forward depends on (a) the state of Covid-19 and (b) the impact of the relief bill. Today's numbers offer no clues on either. We won't know anything important for a few months. — PolitiTweet.org

Paul Krugman @paulkrugman

What it says is that interest payments could become a bigger deal if for some reason, which is hard to specify, federal borrowing costs rise to levels we haven't actually seen for many years. Doesn't quite have the same ring ... 7/ — PolitiTweet.org

Paul Krugman @paulkrugman

If you believe, as I think you should, that we're in a protracted era of low rates/savings glut, this is unreasonable. And in any case, you shouldn't read CBO as saying that "we're on an unsustainable path" That's not what it says 6/ — PolitiTweet.org

Paul Krugman @paulkrugman

Mostly it's just the assumption — and it's just an assumption — that the interest rate on federal debt will rise drastically, back to levels we haven't seen since before the 2008 financial crisis 5/ https://t.co/LsXVJacEFS — PolitiTweet.org

Paul Krugman @paulkrugman

So what's driving those debt service projections? You might think it's snowballing debt: more debt leading to more interest burden leading to even more debt. But nooooo ... 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

But it will be important to understand what's driving those projections. Some of it is entitlement spending, but mostly it's projected interest payments (I start from 2024, after the Covid bulge is over) 3/ https://t.co/TidMLG7b97 — PolitiTweet.org

Paul Krugman @paulkrugman

The debt projections look big, for those worried about that kind of thing 2/ https://t.co/inf236bH6b — PolitiTweet.org

Paul Krugman @paulkrugman

Kind of buried by the Covid bill, but in a few days we'll probably start hearing more about CBO's long-term budget projections, which will have fiscal scolds fulminating 1/ https://t.co/YUhPAuajIP — PolitiTweet.org

Paul Krugman @paulkrugman

There's at least some logic to reopening businesses, although it's surely a tragic miscalculation. Demasking is policy driven purely by spite and pettiness 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

I'd make a distinction between premature opening of restaurants etc — also a possibly deadly mistake, and one shared by some blue states — and the mask thing 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

The war on masks tells you everything about the intellectual and moral collapse of conservatism 1/ https://t.co/a2SRPAXNVr — PolitiTweet.org

Paul Krugman @paulkrugman

RT @nytopinion: "These days conservatives don’t seem to care about anything except identity politics, often expressed over the pettiest of… — PolitiTweet.org

Paul Krugman @paulkrugman

I was wondering that. How can we have Neanderthal DNA when evolution is a lie? — PolitiTweet.org

Paul Krugman @paulkrugman

Was out of the loop for a bit, but as I understand it the US right is now both white nationalist and pro-Neanderthal. The Ku Klux Klan of the Cave Bear? — PolitiTweet.org

Paul Krugman @paulkrugman

Yes. As a premature anti-Bushist and critic of the rush to war, those were very scary times. — PolitiTweet.org

Paul Krugman @paulkrugman

But this thing isn't going back to the drawing board. The choice now is to pass it, imperfections and all, or have the whole effort to rescue the economy crash and burn. Please, let's just get this done 6/ — PolitiTweet.org

Paul Krugman @paulkrugman

So for good-faith critics of the details: OK, you've been heard. If some of the problems you've predicted, like inflationary heating, come true — I don't think so, but they might — your prescience will be duly acknowledged 5/ — PolitiTweet.org

Paul Krugman @paulkrugman

And it must be done fast. If it doesn't happen literally within days, some unemployed workers will be cut off. Beyond that, anyone awake in 2009 knows that political momentum, once lost, is very hard to regain. 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

The great bulk of the proposed outlays will go to extremely worthy causes — shots in arms, reopened schools, sustaining the unemployed, avoiding cuts in crucial services, and more. Compared with real-world bills of the past, this one is amazingly good 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

On (1), sure, you can argue that some aid recipients don't need the money as badly as others. An idealized bill would target aid more accurately on families, local governments etc hurt worst by the pandemic. But so what? 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

As the Senate begins debate on the Biden relief bill, let me remind everyone of three crucial facts: 1. The bill is imperfect — because all legislation is imperfect 2. Nonetheless, it's very, very good 3. The clock is ticking 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

RT @GC_CUNY: Prof. @paulkrugman discusses the Biden American Rescue package, estimating this economic package will inject +8 percent growth… — PolitiTweet.org

Paul Krugman @paulkrugman

In fact, my guess is that by the fall NYC will be looking pretty attractive, with vibrant pedestrian streets, outdoor dining, and a cultural resurgence. Here's hoping 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

Even if the Covid shock were much worse than seems likely, dystopian fantasies about big cities weren't likely 3/ https://t.co/o7WofpviYC — PolitiTweet.org

Paul Krugman @paulkrugman

It reminded me of an old but very good paper by Glaeser and Gyourko on urban decline, pointing out that durable housing acts as a kind of cushion 2/ https://t.co/fVXF9mOLkG https://t.co/dcHHw8NjEk — PolitiTweet.org

Paul Krugman @paulkrugman

Politics aside, this report on young people moving TO New York bc of lower rents — a sort of partial de-gentrification — is interesting and, I think, hopeful 1/ https://t.co/e7rudHzYAu — PolitiTweet.org