Paul Krugman blogs:
Suddenly, the shutdown/debt ceiling confrontation isn’t just about Obamacare; it’s about curbing runaway spending growth and exploding debt.
I’m a bit surprised. I didn’t expect Republicans to worry about the facts that federal spending has been flat in nominal terms, and falling fast in real per capita terms, for several years, or that the deficit is plunging. But I did think they might worry that the public has moved on from the debt scare, and also that some people might balk at the sudden attempt to rewrite history.
It’s not an “attempt to rewrite history” to point out the fact that the CBO’s (Congressional Budget Office) own future projection shows increased spending and rising debt.
Of course, Krugman also argues that there’s no foreseeable debt crisis here. But the CBO report itself suggests otherwise. See here.