Politics & Society
Obama's Ecomomic Policy: Why so Lame?
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I don’t know if Claire Snyder-Hall is correct that there’s a Constitutional remedy to the crisis looming on raising the Federal debt limit. Still, her links to Paul Krugman’s NY Times “Conscience of a Liberal” blog are instructive. There’s also Krugman’s print column, in which he speculates that Obama may actually believe the right-wing line on the need to curb the national debt even at this time of sluggish economic growth and high unemployment:
One striking example of this rightward shift came in last weekend’s presidential address, in which Mr. Obama had this to say about the economics of the budget: “Government has to start living within its means, just like families do. We have to cut the spending we can’t afford so we can put the economy on sounder footing, and give our businesses the confidence they need to grow and create jobs.” That’s three of the right’s favorite economic fallacies in just two sentences.