Economist Summary of the Austerity Debate

The past few weeks have seen a flurry of attacks back and forth between Paul Krugman and Ken Rogoff and Carmen Reinhart over their statement that a debt to GDP ratio of 90% slows economic growth and the effect that has had on economic policy.  The Economist has an article that sums up the exchange between the two sides and concludes that the two sides are much closer to each other than they would most likely admit, and their exchange has by in large missed the larger issues that policy makers need to be hearing.