Hey, big spenders! It’s Paul Krugman to the rescue! In the aftermath of David Stockman’s recent New York Times article, Krugman is assuring his faithful readers that the massive debt financing of the Obama administration’s spending spree is no big deal and that it is not real debt at all, figuratively speaking. Why? According to Krugman: “…debt does not directly impoverish us, because it’s money we owe to ourselves.” What does he mean by that? …think about the macroeconomics; did America really put itself $30 trillion in hock to someone else? No, some Americans lent to other Americans, which is … Continue reading Krugman to Stockman: Massive U.S. Debt is No Big Deal