Courtesy of Calculated Risk here are a pair of articles, one from Krugman and another from Greenspan on the limits of debt. That ’30s Feeling Paul Krugman has That ’30s FeelingSuddenly, creating jobs is out, inflicting pain is in. Condemning deficits and refusing to help a still-struggling economy has become the new fashion everywhere, including the United States, where 52 senators voted against extending aid to the unemployed despite the highest rate of long-term joblessness since the …

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Krugman vs. Greenspan on "That ’30s Feeling"; Calculated Risk Sides with Krugman, I Side with Greenspan