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The Debtpocalypse Is Always Upon Us

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Peter G. Peterson has been called “the most influential billionaire in America” based on the impact his namesake foundation has had in more-or-less creating deficit reduction hysteria. While the deficit has been rapidly shrinking, the hysteria of Very Serious People over an imminent debtpocalypse has only moderately declined, and deficit worries are cutting food stamps and driving millions of people off unemployment insurance and into deeper poverty. Without further comment, The Baffler presents the Peterson Foundation’s latest public statement.