• Some argue that Paul Krugman has flip-flopped on deficit spending.
• Closer inspection reveals that there isn’t much in this, his supposed love for deficit spending has always been conditional on the state of the economy.
• One could appreciate Krugman’s underlying economic model, as this has been the best in making sense of the post-financial crisis economy.

Who Is Actually Inconsistent About Deficit Spending? Not Paul Krugman