DeLong Smackdown Watch for July 1, 2010:

Apropos of my:

Doug Elmendorf Speaks! The Message I Hear: Stick to PAYGO and We Are OK...: The message I hear from this is: stick to PAYGO and we are fine. If Congress has to pay for every deviation from current law it passes--if everything that moves truly has to be deficit-neutral, as Milton Friedman first recommended back in the late 1940s that spending and tax bills needed to be conjoined twins--then things are under control. If not--if Congress waives PAYGO on a routine and...