Krugman, in a November 2004 interview, criticized the "enormous" Bush deficit. "We have a world-class budget deficit," he said, "not just as in absolute terms, of course -- it's the biggest budget deficit in the history of the world -- but it's a budget deficit that, as a share of GDP, is right up there."
The numbers? The deficit in fiscal year 2004 -- $413 billion, 3.5 percent of the gross domestic product.
Your not an Economist
Your an Obama flack