The Deficit Problem Is Not We, the People, It is You, the Incompetent Elite
Was it we the people who were too dumb to see an $8 trillion housing bubble and recognize that its collapse would wreck the economy? No, that was the job of the great Maestro Alan Greenspan and his sidekick Ben Bernanke, the brilliant scholar of the Great Depression. It was also the job of all the economists who do research and opine to the public on the macroeconomy. Virtually all of these highly educated highly intelligent economists either did not see the bubble or insisted it was not worth their time.
Heh, Dean Baker. Missed you at The American Prospect, need to get in the habit of going to the new hang.