"The Boom, not the Slump, Is the Right Time for Austerity at the Treasury"

"The bottom line is that 2011 was a year in which our political elite obsessed over short-term deficits that aren’t actually a problem and, in the process, made the real problem—a depressed economy and mass unemployment—worse."

In The New York Times, Paul Krugman argues that circumstances have, once again, vindicated Keynesian economics.