Paul Krugman: Deficits and the Future -- How Big the Bailouts?

News Type: Opinion — Seeded on Mon Dec 1, 2008 8:33 AM EST

Article Source: The New York Times

politics, bailout, recession, depression, capitalism, us-economy, krugman

Right now there's intense debate about how aggressive the United States government should be in its attempts to turn the economy around. Many economists, myself included, are calling for a very large fiscal expansion to keep the economy from going into free fall. Others, however, worry about the burden that large budget deficits will place on future generations.

But the deficit worriers have it all wrong.

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{"commentId":4244748,"authorDomain":"greenpagan"}

greenpagan

The bottom line, then, is that people who think that fiscal expansion today is bad for future generations have got it exactly wrong. The best course of action, both for today's workers and for their children, is to do whatever it takes to get this economy on the road to recovery.

IOW -- Save Crapitalism with Socialism so that 30 years down the line Ronald Reagan Redux can call Government the problem again? Is that what you're saying Dr. Paul? Isn't what you're really doing--as the unregenerate bourgeois politically liberal intellectual Menshevik you are--is calling for the almost ancien regime status quo to be rescued on the backs of the workers--as usual? Not this time, buddy. (Not unless you can fool and frighten and confuse the People once again. Which historically has always been something the Masterclass has counted on. Only trouble is, they're becoming a lot more sophisticated about things in general thanks to if nothing else the very information technologies the Power Elite intended to help them strengthen their stranglehold over the hearts and minds of their trickled-down-upon "pee-ons". The People are becoming more skeptical; they're, heavens forefend, thinking for themselves--or at least trying; which after all is the real intended meaning of the term self-reliance. )

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1 vote

#1 - Mon Dec 1, 2008 8:48 AM EST

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Paul Krugman: Deficits and the Future -- How Big the Bailouts?

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