August 13, 2012

Otequay of the Ayday

Such explosive growth in debt can't go on forever, and it won't. Yet our current leaders and their apologists insist that the problem will magically solve itself. Last year's deficit came in slightly below forecasts, and we've had one quarter of good economic growth -- see, we'll grow out of the deficit!


Let's hope that works -- but hope is not a plan.

Just as the federal government is in no immediate danger of running out of money, our forces in Iraq are in no danger of outright defeat. But in both cases, current policies appear to be unsustainable: we can't go on like this indefinitely. And things that can't go on forever, don't.

Paul Krugman (2003)

Health Care Quote of the Day Posted by JohnGalt at August 13, 2012 3:46 PM

Would that be "Nobel Laureate, Dr. Paul Krugman?"

Posted by: jk at August 13, 2012 5:17 PM

Heh, not in 2003! :) And the "Dr." wasn't on his byline.

Posted by: johngalt at August 13, 2012 5:32 PM

The Times Style Guide eschews honorifics.

Posted by: jk at August 13, 2012 6:13 PM

He may not have been "Nobel Laureate, Dr. Paul Krugman" at that point, but I'm pretty sure he was already "former paid Enron economic adviser Paul Krugman" by then. A point that everyone who ever has to face off against him in public needs to remind their audience early and often.

Posted by: AndyN at August 13, 2012 9:46 PM | What do you think? [4]