Paul Krugman is a nutcase loved by the New York Times and most of its readers for his approval of ever more government spending. He said that debt is a problem for individuals and private businesses but magically doesn't matter for the federal government. By his reasoning the federal government could just take on all of our debts -- mortgages, credit cards, student loans, car loans, and business loans -- and there would be no negative consequences, while the economy would boom as we were all freed from our debt burdens.
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