DEBT THREAT

The Washington Times Weekly - - Politics -

“Nor­mally Paul Krugman, the lib­eral pun­dit and No­bel lau­re­ate in eco­nomics, and Paul Ryan, a con­ser­va­tive Repub­li­can con­gress­man from Wis­con­sin, share lit­tle in com­mon ex­cept their first names and a scorch­ing pas­sion for views they cham­pion from op­po­site po­lit­i­cal poles,” For­tune mag­a­zine’s Shawn Tully writes at http://money.cnn.com.

“So when the two com­bat­ants agree on a fun­da­men­tal threat to the U.S. econ­omy, Amer­i­cans should heed this alarm as the real thing. What’s wor­ry­ing both Krugman and Ryan is the rapid in­crease in the fed­eral debt — not so much the stim­u­lus-driven rise to moun­tain­ous lev­els in the next few years, but the huge struc­tural deficits that, un­der all pro­jec­tions, keep build­ing the bur­den far into the fu­ture to un­sus­tain­able, ru­inous heights.

“‘The long-term out­look re­mains wor­ry­ing,’ warned Krugman in his New York Times col­umn. Krugman strongly sup­ports Pres­i­dent Obama’s spending plans but be­moans the short­fall in taxes to pay for them.

“Ryan flays the ad­min­is­tra­tion for pil­ing new spending on top of al­ready enor­mous deficits. ‘This isn’t a tem­po­rary stim­u­lus

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