04/06/2010 05:12 am ET | Updated May 25, 2011

Krugman: Deficit Hysteria Resembles Iraq War Scare Tactics

These days it's hard to pick up a newspaper or turn on a news program without encountering stern warnings about the federal budget deficit. The deficit threatens economic recovery, we're told; it puts American economic stability at risk; it will undermine our influence in the world. These claims generally aren't stated as opinions, as views held by some analysts but disputed by others. Instead, they're reported as if they were facts, plain and simple.

Yet they aren't facts.

Read more on New York Times