The Congressional Budget Office’s latest debt and deficit projections for the next ten years are out and there’s no way any honest analyst could read them as anything but the official end to any rational concern about red ink. Of course, given that the phantasmic plays such a large role in politics, it’s likely that important people will still worry about fiscal ruin. But to the degree that reality exerts even a weak gravitational pull on discourse, it should be harder to generate the sense of emergency that austerians thrive on. From the… Read More