'Self-Described Fiscal Conservatives Cannot Be Taken Seriously'

10/28/2010 05:12 am ET | Updated May 25, 2011
  • SIMON JOHNSON The New York Times

There are three main views of the financial crisis and the most recent recession. In the first two views, the debate over the fiscal deficit is quite separate from what happened in the crisis. But in the third view, the financial crisis and likelihood of fiscal austerity are closely linked.

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