I think this past blog post on Krugman ought to have completely removed his credibility on deficits. To argue that smaller deficits are huge problem under W, then to turn around an argue that HUGE deficits are too small and no problem at all under BO is simply proof that he is either insane, or merely a pure partisan.
Ryan may be one of the best hopes for keeping this collapse to '70s levels vs 30's levels. His Roadmap ought to be the economic plank for returning the Republicans to control of congress. An excerpt:
"It reforms Medicare and Social Security so those in and near retirement (55 and older) will see no change in their benefits while preserving these programs for future generations of Americans. We do not have a choice on whether Medicare and Social Security will change from their current structure - the true debate is if and how these programs will be made solvent."