Don’t look now, but there’s a growing group of voices on both the left and right of the political spectrum questioning the theory that America is facing a debt crisis and must fight it with economic austerity.
The two parties are miles apart on how to cut the deficit and national debt: Republicans want to slash spending even more. Democrats want to raise revenue.
And then there are the other Democrats — the ones who reject the entire premise of the current high-stakes fiscal fight. There’s no short-term deficit problem, they say, and there isn’t even an ...