If Krugman is correct that “debt doesn’t matter” then let us take that to an extreme. Have the Fed fund the entire federal budget. Already the Fed funds about half of it, so this isn’t a large stretch.
With the Fed funding the full federal budget there is no need for any income taxes.
That should please Krugman, yes?! Certainly our economy would grow rapidly without those pesky taxes.
but then,it wouldn’t be “fair” to let all people keep all the money they earn, would it?
Rich people are just selfish with their own money anyway, government can better “invest” it.
sarc
Debt doesn’t matter, as long as a Democrat is President.