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View Diary: Paul Krugman asks if the election will be honored (266 comments)

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  •  There is no cliff (3+ / 0-)
    Recommended by:
    ferg, Illinibeatle, Laconic Lib

    Raising taxes and cutting spending will lead to a downturn, but that's not a cliff, which by nature would mean a deep and catastrophic recession. The cliff is not real. It's an imaginary cliff. However, if fear of this phantom cliff will get pols to raise taxes on the rich and convert money misspent on defense to infrastucture spending, then that would be a great thing.

    "Liberty without virtue would be no blessing to us" - Benjamin Rush, 1777

    by kovie on Sun Sep 30, 2012 at 09:46:00 PM PDT

    [ Parent ]

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