And in This Corner….


Speaking of bloggers interviewing economists, Kevin "CalPundit" Drum has one with Paul Krugman, who blames the Milton Friedmans of the world (or more specifically, Grover Norquist and the Heritage Foundation) of helping create a situation where

we're headed for some kind of collision, and there are three things that can happen. Just by the arithmetic, you can either have big tax increases, roll back the whole Bush program plus some; or you can sharply cut Medicare and Social Security, because that's where the money is; or the U.S. just tootles along until we actually have a financial crisis where the marginal buyer of U.S. treasury bills, which is actually the Reserve Bank of China, says, we don't trust these guys anymore ? and we turn into Argentina.