What rests upon the paunch of diminished expectations? Krugman’s muse, apparently, the same one that tells him to support world-shattering levels of federal borrowing, with its corresponding levels of economic overhang that result in a permanently higher level of unemployment. That’s what rests upon the mighty paunch of Nobel Prize-winning beard growers.
I guess when the day’s largest challenges lie in the need to act as the cheering section for Keysenian dystopians that seem to inhabit the White House staff, and also in buying another case of Friskies Salmon Dinner for Mr. Whiskers there, well, life is so good that it’s pretty easy to ignore hideous unemployment numbers, diminished GDP, and GDP-to-debt ratios that have been looking a lot like countries in Europe that are more or less aflame.
Paul has the gall (tee hee) to actually ask this question:
Now, projections that run further into the future do suggest trouble, as an aging population and rising health care costs continue to push federal spending higher. But here’s a question you almost never see seriously addressed: Why, exactly, should we believe that it’s necessary, or even possible, to decide right now how we will eventually address the budget issues of the 2030s?
Spoken like a true college sophomore with Dad’s platinum Amex, Ace. Well done. You can go home early today. Try not to let your paunch get caught in the building’s escalator on your way out the door.