Politics Over Debt Are Uniquely American: Krugman

Paul Krugman discusses the US government's growing debt, emphasizing that while the debt is high by historical standards, it is not a top priority concern. He argues that financial markets are not worried about the US's ability to service its debt, and the debt service costs remain manageable. Krugman highlights the importance of investing in critical areas like education and climate change, which can pay off in the long run. He warns against capping discretionary spending, as it could harm future investments and government functionality.

What is the main concern regarding the US government's growing debt as discussed in the text?

How does the current level of US debt compare to historical standards?

What factors contribute to the perception of the US debt as a non-catastrophic issue?

What is the significance of debt service costs in relation to the overall debt?

What is the author's perspective on the relationship between debt levels and the ability to fund critical programs?

What are the potential consequences of capping discretionary spending?

How does the text describe the impact of spending cuts on programs for children and education?