I don’t think I’ve read a better, more honest discussion of precisely how the ”fiscal cliff” and its associated drama are, more than simply agenda-driven distractions, structurally co-opting so many of the values and impulses that make Americans great to serve an incredibly narrow, very powerful moneyed constituency – at the expence of the long-term safety and security of the vast bulk of the country.
Dear Mr. Obama, the “Grand Bargain” is neither Grand…nor a Bargain
A Pun Involving Travel 
Somehow I slogged through this because I appreciate what he is saying, but please get to the point and then explain it.
Spend less time on the perceived psychology of the president, and more time explaining seemingly paradoxical concepts.”If it were ever to become onerous to have a certain amount of bond interest due, the US government could instantaneously pay off all its bond obligations at near zero cost.” This is a tough thing for most to understand and like Krugman, I have a hard time buying that in the long run the US can produce an infinite amount of dollars without some sort of consequence.
(I had to go to the linked Forbes article to get a better explanation, but when I read “Life in the 1970s was still relatively okay” I couldn’t help but think of the 14% interest rates my folks were looking at when buying a house. Also New York City in the 70s.)
(I also have to admit that “into which you have gotten yourself.” made me cringe. People who like to dangle their Ph.D. after their name should not be using the word ‘gotten’.)
Somebody, please take the points made here, boil them down into something that we can understand, and then maybe this has a chance of going viral.
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