Bartlett Agrees (Kinda) With Krugman

He offers a very helpful guide to the newly popular theory that fiscal consolidation actually helps growth rather than smothering it. He's unconvinced:

I remain skeptical that immediate fiscal consolidation is desirable; I think the case for additional short-term stimulus is much stronger. (The necessity of long-term fiscal adjustment is unquestioned.) But if stimulus is effectively impossible, as I believe it is, we may have no choice but to test the theory that consolidation can be...