The UK Guardian has this wonderful article Paul Krugman: ‘I’m sick of being Cassandra. I’d like to win for once’ .
The Krugman quote from this article that I have chosen to highlight is,
In an economy that produces $15tn worth of goods and services each year, $500m “is just not a big number”. Back in 2009, Krugman had warned: “By going with a half-baked stimulus, you’re going to discredit the idea of stimulus without saving the economy.” And that, he sighs, “is exactly what happened. Unfortunately it was one of those predictions that I wish I’d been wrong about. But it was dead on.”
“Discrediting the idea of stimulus without saving the economy” is exactly what I think Obama’s biggest sin has been. This is why I get so steamed with Obama sometimes.
As great as this article is, the most valuable thing that may have come out of it is the comment that links to a YouTube video that I will blog about next.