How Paul Krugman Fudged Truth - Barron's
EVEN THE BASELINE SCENARIO, which assumes that "current
laws governing taxes and spending will remain generally unchanged," can
hardly be characterized as "distinctly non-alarming." It shows, for
example, that if current laws aren't changed, the debt-to-GDP ratio will
continue to climb, from 106% in 2039, to 126% by 2050, to 147% by 2060.
By neglecting to mention this, Krugman manages to dismiss the scary
number by pointing out that by 2039, the debt would be "no higher, as a
percentage of GDP, than the debt America had at the end of World War
II."
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