Andrew Sullivan, ex-wunderkind New Republic editor and alleged Really Smart Guy, writes this today:
here's the economic expert, Krugman, on the looming deficit:
"[R]ight now the deficit, while huge in absolute terms, is only 2 — make that 3, O.K., maybe 4 — percent of G.D.P."
I take Krugman's broader point about the deficit, and agree with it. But why such contemptuous sloppiness? There's a critical difference between 2 and 4 percent of GNP. Isn't there?
Um, Andrew? That's not sloppiness -- it's a joke. It's a wry joke about the fact that every few days the administration says, in effect, "Whoops, sorry -- it looks as if the deficit is going to be even bigger than we said it would be a few days ago."
Get it, Andrew?
(UPDATE: TBOGG beat me to the punch on this one.)