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Friday, September 10, 2004

Coalition of the Shrill

Paul Krugman:
It wasn't always that way. Three years ago, those of us who accused the administration of cooking the budget books were ourselves accused, by moderates as well as by Bush loyalists, of being "shrill." These days the coalition of the shrill has widened to include almost every independent budget expert.
So what's the real plan? Some not usually shrill people think that Mr. Bush will simply refuse to face reality until it comes crashing in: Paul Volcker, the former Federal Reserve chairman, says there's a 75 percent chance of a financial crisis in the next five years.

Nobody knows what Mr. Bush would really do about taxes and spending in a second term. What we do know is that on this, as on many matters, he won't tell the truth.