Jared Bernstein: Is It Really Important to Stabilize the Public Debt? And, If So, When and at What Level?

Suppose, just for entertainment purposes, that we wanted to have a sane, rational, and even informative discussion about what to do about our public deficits and debt -- one that doesn't automatically default to the "hair-on-fire, we're Greece!" that we too often get from the deficit reduction industry.