That is the only possible explanation for this strong assertion in an unsigned front page piece: "The boldness of the economic rescue is already straining the government's finances." The piece never presents any evidence for the claim that the government's finances are being strained. Economists would usually look for high interest rates on government bonds as evidence for such strain, the argument being that excessive borrowing is causing lenders to view the U.S. government as a questionable credit risk. In fact, the evidence here suggests the opposite. The short-term rates on Treasury debt are near zero. The 10-year Treasury rate is just over 2.0 percent, the lowest in more than fifty years. So, there is no obvious real world support for the Post's claim. Of course the Post has editorialized against deficits for decades and its ed board has been on a near religious crusade to cut Social Security, so it would not be surprising to see them oppose a large stimulus package no matter how urgent the economic need. It is however somewhat surprising to see them editorializing on the front page in this way.
--Dean Baker
