A recession happens when Demand is low. Krugman's been shouting in the wilderness for a long time that while the Deficit and the Debt are important - and will get to be moreso in time - we have to focus on continuing to boost Demand if we expect ever to get a chance to tackle any other problems.
And BTW: the deficit is down significantly.
And BTW also too: if you fix the Demand problem, then the Deficit problem kinda fixes itself; and once the Deficit problem is fixed, then the Debt problem practically evaporates before your very eyes.
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