Here is Paul Krugman today:
But if we need to raise taxes and cut spending eventually, shouldn’t we start now? No, we shouldn’t.
And yet Krugman focuses solely on the spending side of the equation, never mentioning that the Bush tax cuts on incomes, dividends, capital gains, and estates are set to expire at the end of the year. If Krugman takes his theory seriously, which he does, then why doesn't he spend as much time arguing for a delay in rescinding the Bush tax cuts as he spends arguing for ever more government spending?