Paul Krugman: Serious Voices Drown Out Sensible Ones in Europe

I've just finished writing a review of Tim Geithner's new book Stress Test. One thing I didn't mention in it was something surprising and refreshing: Mr. Geithner makes fun of Simpson-Bowles syndrome!

"There was a lot of good policy in Simpson-Bowles," he writes, "including cuts in wasteful farm subsidies and increased infrastructure spending to boost growth, but the benefit cuts and tax reforms were pretty regressive and the health care savings very modest. Nevertheless, the plan would attain mythic status among Washington elites as a symbol of noble bipartisan seriousness."