When Donald Luskin’s “Krugman Truth Squad” [*] and Megan McArdle’s commenters [*] are finished spewing their bile at Paul Krugman, perhaps they ought to take a look at Ricardo Caballero of MIT, writing in that famous left-wing rag the Financial Times [*]. He, too, seems to think that credit-card conservatism is likely to lead to very bad consequences unless we get some adult supervision soon. Brad DeLong agrees. [*]
When you think about it, “Slime and defend” is really an amazingly versatile strategy.