Noted “economist” and political hack Paul Krugman published the article “Why You Shouldn’t Obsess About the National Debt” in the New York Times on Thursday. He argued that “to the extent that debt is a problem, that’s a reflection of political dysfunction, mainly the radicalization of the GOP.” He specifically said “right-wing politics” is a bigger problem than “the size of the debt” and insisted he is much more worried about “the fate of democracy.” Even beyond the cartoonish partisan bias in the article, his assertions that we should not worry about the national debt are embarrassing.

The national debt reached $34 trillion at the beginning of this year, which is about 120% of the United States’s GDP. This is a terrifying prospect for numerous reasons, as high levels of debt slow economic growth, increase the risk of a financial crisis, and raise interest rates, resulting in higher costs for mortgages and other loans. Additionally, as the debt grows, the ability of future generations to respond to crises of all types effectively will be severely limited.