Paul Krugman’s article [free registration required] in today’s New York Times takes a quick swipe at New Jersey’s former Gov. Whitman before redirecting his attack on BushCo.™* The article is terse and devoid of detail, but sums up the situation pretty well. Here’s an excerpt:
The only reason Tennessee doesn’t look like Argentina right now is that it isn’t a sovereign nation; since the federal budget was in good shape until recently, there’s a safety net. And the federal budget was in pretty good shape because the Clinton administration, unlike state governments, behaved responsibly. Budget projections were honest—if anything, too cautious—and boom-year surpluses were used to reduce debt.
*The BushCo. name belongs to Tom Tomorrow.
On another note entirely, here’s a great page of Linguistics Fun. Enjoy.
NP: more radioio—Midnight Oil, Say Your Prayers
