Grasping Reality by Brad DeLong

MY: "Wish I'd thought of Sebastian Mallaby schtick of being a lonely voice standing up for put-upon but super-wealthy hedge funds"

EK: "Paul Krugman... David Brooks... if you actually look at their prescriptions, they are, in this case, similar. Krugman wants to see unemployment benefits extended. So, it turns out, does Brooks... [and] notice that he's recommending state and local aid." I disagree. I think that, as somebody not named Ana Marie Cox said, Brooks's column shows the dangers of phoning it in while drunk as a skunk on Bud Light Lime...

GP: "The large deficits we face today and faced last year should not be confused with the structural deficits in the years going forward. That is, even if the economy is healthy from 2015 onward, the United States faces serious issues with its budget.... The dire outlook from CBO today is not the fault of the current administration.... In fact, if the Medicare cuts in the health care bill are to be believed and CBO's estimates pertaining to the health care bill are to be believed, Pres. Obama has already done more to reduce in magnitude the long-term budget problems for the U.S. than the previous administration, who undoubtedly made the problem worse. That's true despite the amount added to the deficit from the stimulus bill and the costly coverage provisions in the health care bill."