Krugman’s Zombie Idea: We Owe It to Ourselves

"A bigger problem is that Krugman commits what Don Boudreaux calls the “Fallacy of Us, We, and Our.” Even if the entire national debt is owned by US citizens, there is no real sense in which “we” owe the debt to “ourselves.” The individuals incurring and benefiting from the debt are entirely different from the individuals who must bear the burden of repaying that debt. "