Dean Baker: The New York Times Turns Paul Krugman Into His Opposite

Remember Paul Krugman yelling that huge budget deficits will impose an enormous burden on our children and threaten to sink the economy? You probably don't remember this because he has been strongly arguing the opposite position for the last five years.

This is why it was striking to see the NYT opinion page's description of Krugman's column last week which has Krugman referring to a "fiscal crisis." Krugman absolutely does not believe there was a fiscal crisis. Krugman's column discussed the financial crisis and the economic downturn that followed the collapse of the housing bubble.