And–surprise!– it’s been based on bogus numbers.
Paul Krugman justifiably goes off in the Times on the way that “Our exaggerated fear of debt is, in short, creating a slow-motion catastrophe.”
While Richard Eskow at the Campaign for America’s Future blog lays out the way that the “spreadsheet scandal” kicks the props out from the specious math used to justify Obama’s proposal to cut Social Security.
And Eskow makes a welcome excoriation of Timothy Geithner’s seismically dreadful performance as Treasury Secretary.