Paul Krugman: David Altig points out that given the recent decline in gasoline prices, we’re likely to see a negative headline inflation number by June. What will the inflationistas say?
Lemkin: They will say that this is definitive proof that further austerity measures must be implemented immediately, the deeper and harsher the better, and preferably coming through brutal cuts to Medicare and the social safety net. Likewise, deep cuts to the tax rates of the top 1% are indicated. What other response is even possible?
Krugman Asked
Published
Lemkin 