Wednesday, May 12, 2010

Greece Is the New France

by Paul Krugman

New York Times
May 10, 2010

So says Dave Weigel. And he’s right. Now, the complaint from the right about any effort to do anything about mass unemployment is that it’s turning America into Greece.

Of course, the real rap on Greek fiscal policy is that the Greek government ran deficits even during the good years — not that it’s running deficits in a slump. And it’s true, we did something like that too. But guess who was in power then? Funny about that.

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