Dean Baker says in effect that Yglesias, Klein and I shouldn't be worried that the Republicans will bring on a default. They voted for TARP.

The Medieval Plague and Full Employment by Jared Bernstein

Bernstein links to Annie Lowrey's piece: "The Politics of Low Growth"

Tom Friedman discusses it as well.

Maybe my baby-boomer generation really does intend to eat it all and leave our kids a ticking debt bomb. If only we had a second-term president, unencumbered by ever having to run again, who was ready to test what really bold leadership might produce.

He's wrong as usual.

Nate Silver on the composition of government spending.

Serfs Up! by Krugman, cited by a commenter that Bernstein - who usually right -  is wrong.

Japan should rethink its stimulus by Adam Posen

huh? He favored fiscal stimulus early on for Japan and favors it for the U.K.

Fed’s Rosengren Says Economy Responding to Stimulus

Boston Fed President Eric Rosengren Had A Great Answer About The 'Cost' Of All That Fed Easing