Deficits

Moment of Truthiness

Moment of Truthiness

Do people like Mr. Cantor or Mr. Paul know that what they're saying isn't true? Do they care? Probably not. In Stephen Colbert's famous formulation, claims about runaway deficits may not be true, but they have truthiness, and that's all that matters.

And please stop saying both sides are just as bad. MSNBC is not reporting we are running a surplus. The NYT isn’t reporting there is no deficit. Its isn’t the same.

the deficit-scold movement was never really about the deficit

Recent events have also demonstrated clearly what was already apparent to careful observers: the deficit-scold movement was never really about the deficit. Instead, it was about using deficit fears to shred the social safety net. And letting that happen wouldn't just be bad policy; it would be a betrayal of the Americans who just re-elected a health-reformer president and voted in some of the most progressive senators ever.
—Krugman on the deficit scolds Deficit Hawks and Hypocrites - NYTimes.com