This morning’s Times Op-Ed page has one of those examples of just how important a voice Paul Krugman’s is. Don’t miss it. The Bush administration promised their fiscal policy wouldn’t lead to deficits. When it did they made excuses and said it wouldn’t be for long. Now that the deficits are huge and there as far as the eye can see, they say deficits never really mattered in the first place. Bad policy, bad character, and eventually — one has to assume and hope — bad politics.
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