05/06/2013 08:34 am ET Updated Jul 06, 2013

Paul Krugman: It's Fiscal Conservatives Who Are Irresponsible

At this point the economic case for austerity -- for slashing government spending even in the face of a weak economy -- has collapsed. Claims that spending cuts would actually boost employment by promoting confidence have fallen apart. Claims that there is some kind of red line of debt that countries dare not cross have turned out to rest on fuzzy and to some extent just plain erroneous math.

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