Aha. Forgot there are Americanized lyrics. I guess I've spent too much time Over There over the years.
Paul Krugman Wed 20 Jan 2021 15:12

Band playing God Save the King? Not exactly appropriate.
Paul Krugman Wed 20 Jan 2021 15:12

RT @TopherSpiro: Four years ago, this was a headline: "GOP Eyes Lightning Strike on Obamacare to Kick Off Trump Era." Thanks to all of you…
Paul Krugman Wed 20 Jan 2021 14:52

So Obama's key achievement survived, only slightly damaged https://t.co/ytXgc1MRSs
Paul Krugman Wed 20 Jan 2021 14:42

Americans of good will need to make sure that we use this reprieve from disaster. This is not a time for caution. 2/
Paul Krugman Wed 20 Jan 2021 12:02

Don't take this day for granted. Trump came fairly close to winning the EC despite huge public repudiation. Rs almost kept control of the Senate, allowing massive sabotage. Terrorists almost managed to kill multiple members of Congress. We've had a miraculous escape 1/
Paul Krugman Wed 20 Jan 2021 12:02

Today is the first day of the rest of America's life.
Paul Krugman Wed 20 Jan 2021 11:47

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/
Paul Krugman Tue 19 Jan 2021 13:11

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/
Paul Krugman Tue 19 Jan 2021 13:11

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/
Paul Krugman Tue 19 Jan 2021 13:06

Still getting anxious mail from people who worry about how America will pay down its debt. Folks, we don't have to pay it down. Here's what happened after WWII: 1/ https://t.co/nVJYboi91z
Paul Krugman Tue 19 Jan 2021 13:06

Deep thought: if Trump had won, he could have just given Lincoln's second inaugural, except upside down: "With malice toward all, with charity for none, with firmness in the wrong ..."
Paul Krugman Tue 19 Jan 2021 13:06

RT @nytopinion: "There is indeed a radical party in America," @PaulKrugman writes, "one that, aside from hating democracy, has crazy ideas…
Paul Krugman Tue 19 Jan 2021 00:41

My head talks tonight with Christiane Amanpour
Paul Krugman Mon 18 Jan 2021 20:46

Sketch of planned statuary for Trump's garden https://t.co/RLt5w251fH
Paul Krugman Mon 18 Jan 2021 19:26

RT @davies_will: But the FT is rewriting history about any ‘consensus’. Look what they published in 2012, by two eminent liberal economists…
Paul Krugman Sat 16 Jan 2021 19:49

In any case, when Rs start thumping the table about how deficit spending is bad, look at what they did, not what they say 5/
Paul Krugman Sat 16 Jan 2021 12:43

In fact, given the scale of the shift from austerity to stimulus, it's surprising that the Trump economy wasn't stronger. It may have been held back by trade-war uncertainty, and/or poorly targeted stimulus 4/
Paul Krugman Sat 16 Jan 2021 12:43

As Republicans go around claiming that the Biden agenda is job-destroying and whine about deficits, worth remembering that Trump policy was, in effect ... Keynesian. Here's a key picture, explained below 1/ https://t.co/2EJKzUJL3F
Paul Krugman Sat 16 Jan 2021 12:38

They should own up to that colossal error of judgment, or it will happen again 4/
Paul Krugman Sat 16 Jan 2021 12:18

So claiming that the push for austerity was based on advice from economists, who have since changed their minds, is an evasion of responsibility. VSPs, including the FT, chose to ignore the mainstream and go with the economic equivalents of Scott Atlas 3/
Paul Krugman Sat 16 Jan 2021 12:18

RT @samstein: I’m deadly serious about this, if Jenna Ryan was your realtor i want to hear from you. PLEASE. DMs open https://t.co/PjUk0Q…
Paul Krugman Fri 15 Jan 2021 19:38

The idea that debt is a serious threat may seem hard-headed and, yes, Very Serious, but it's just a prejudice at odds with the facts fin/
Paul Krugman Fri 15 Jan 2021 17:32

r is the rate of interest on government debt; g the economy's growth rate. You can do either both nominal or real. Let's do nominal, and use CBO's estimate of potential GDP to smooth out business cycles 5/ https://t.co/bgLGnL6xFq
Paul Krugman Fri 15 Jan 2021 17:27

This happens to individuals and businesses! And it could in principle happen to the U.S. government. But the arithmetic is all wrong — so wrong that even if borrowing costs rise in the future it's just not likely to be an issue 2/
Paul Krugman Fri 15 Jan 2021 17:12