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Must-Read Column by Paul Krugman

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I strongly recommend today’s NY Times column by Paul Krugman, “Hey, Small Spender.”  Here’s an excerpt:

Here’s the narrative you hear everywhere: President Obama has presided over a huge expansion of government, but unemployment has remained high. And this proves that government spending can’t create jobs.

Here’s what you need to know: The whole story is a myth. There never was a big expansion of government spending. In fact, that has been the key problem with economic policy in the Obama years: we never had the kind of fiscal expansion that might have created the millions of jobs we need.

So much, in Krugman’s view, for the Tea Party cry of “stop the spending!” In fact, Krugman argues, we need to START the spending (and investment – not the same thing as pure “spending”), because so far, other than tax cuts, it hasn’t really started in a big way.

  • blue bronc

    This has been the lie that saint ronnie started and the Republicans, including their current form as teabagging idiots,continue to their advantage. Many worthless and brassless Dems have joined in the lie, as seen by the current Congress.

    Government is bad, do not give government any money and it will go away and we will live happy and content. The big lie.

    How to fight it when the mass media is controlled by three people? Right now the only way of fighting it is going to be shut down by the weaklings in Congress when they sign over control of the internet to those three people.