Krugman gets the seriousness right:

Krugman gets the seriousness right: "It’s hard to see how this situation is resolved without a major crisis of some kind. Mr. Simpson may or may not get the blood bath he craves this April, but there will be blood sooner or later. And we can only hope that the nation that emerges from that blood bath is still one we recognize." http://nyti.ms/aMESYg