Paul Krugman’s: “Economy At Edge Of Catastrophe And Republicans Are Trying To Push It Over The Edge”

Paul Krugman, writing in the NYT, On the Edge, uses some alarming language.  He says, “It’s hard to exaggerate how much economic trouble we’re in.” And he says, “Most economic forecasts warn that in the absence of government action we’re headed for a deep, prolonged slump.”

Krugman condemns the Republicans.  He says, “The American economy is on the edge of catastrophe, and much of the Republican Party is trying to push it over that edge.”

Krugman says, “What should have been a deadly serious debate about how to save an economy in desperate straits turned, instead, into hackneyed political theater, with Republicans spouting all the old clichés about wasteful government spending and the wonders of tax cuts.”

Krugman criticizes Obama’s actions in this crises so far.  He says, “Count me among those who think that the president made a big mistake in his initial approach, that his attempts to transcend partisanship ended up empowering politicians who take their marching orders from Rush Limbaugh,” but, he says, “What matters now, however, is what he does next.”

Krugman urges Obama to go on the offensive.  He says, “Above all, he must not shy away from pointing out that those who stand in the way of his plan, in the name of a discredited economic philosophy, are putting the nation’s future at risk.

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1 comment to Paul Krugman’s: “Economy At Edge Of Catastrophe And Republicans Are Trying To Push It Over The Edge”

  • Rick

    Krugman, who has a deep hatred of Republicans, is joining the fear mongering crowd. “Give us your money and freedom and we will save you.” When you give up freedom for security you don’t get either one.

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