Paul Krugman: "Deficit-Scolds Never Really About Deficit, But About Shredding Social Safety Net"

[Jack Sprat]

2. Don't ever forget these deficit hounds

were applauding deficits as Bush began growing them again in the early 2000s, even saying they were healthy for a growing economy. I remember it well. I was thinking how idiotic it was that so much was made of the balanced budgets and surpluses pre-Bush, and then seeing the repubs just blow it all off as unnecessary.