There Is No Debt Crisis

I have long been of the opinion that the actual crisis that awaits us in the U.S. is one of deflation, as opposed to hyperinflation. (As Prof. Pollin points out, the current trends in rising fuel and food prices are based on speculative pressures that function independent of the sorts of monetary dynamics the deficit hawks have erroneously ascribed to it.)

This has basically been my interpretation from the beginning. The debt "crisis" is mostly fictitious.