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Mr. Krugman, not all deficit scolds are alike.
No one is seriously suggesting that all deficit reduction should come from higher taxes.
Advocates of extensive tax expenditure reduction argue — correctly — that all deficit reduction choices involve substantive costs and are politically difficult.
Shadow ministers were also forced to defend Miliband's decision to attend the event, after Tory accusations that he had aligned himself with unions against all deficit reduction.
The Zarnowitz thesis: All deficit forecasts are acutely sensitive to the economic assumptions that underpin them, especially those regarding future growth rates of GDP.
If Congressional Republicans have their way — insisting that all deficit reduction be achieved by spending less without any tax increases — the automatic cuts that began on March 1 will continue.
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Before it goes any further, euro-zone members need to amend its inflexible, one-size-fits-all deficit ceilings.
He now says that the structural budget will be balanced in 2017-18, and that the over-all deficit will disappear in the following year.
"Texas will not surrender to Washington's one-size-fits-all, deficit spending mindset," said Perry in a statement.
The chart below (created with CBO data) shows all the deficit reduction that happened during the budget cage-match.
It is the crux of all deficit-reduction schemes that enjoy bipartisan support, and is thought to feature prominently in the discussions of the "super-committee" charged by Congress with deflating the deficit.
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