New York Times :: Rubin Gets Shrill [Paul Krugman]
Article

> The point made by Mr. Rubin now, and by Mr. Mankiw
> when he was a free agent, is that the traditional immunity
> of advanced countries like America to third-world-style
> financial crises isn't a birthright. Financial markets give
> us the benefit of the doubt only because they believe in
> our political maturity - in the willingness of our leaders
> to do what is necessary to rein in deficits, paying a political
> cost if necessary. And in the past that belief has been
> justified. Even Ronald Reagan raised taxes when the
> budget deficit soared.

IMF gets shrill, too. See Times' article. posted by Tomohiro Idokoro @ 9:00 AM

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