Legal Commentary

Keynes Rejected

By Big Tent Democrat

Krugman:

[President Obama] has effectively given up on the idea that the government can do anything to create jobs in a depressed economy. In effect, although without saying so explicitly, the Obama administration has accepted the Republican claim that stimulus failed, and should never be tried again.

What’s extraordinary about all this is that stimulus can’t have failed, because it never happened. Once you take state and local cutbacks into account, there was no surge of government spending. [. . .] Fiscal policy didn’t fail; it wasn’t tried.

Meanwhile, The New Republic tells us how great Tim Geithner is because "Wall Street looks like a patient that staggered off its death bed and promptly took up ultra-marathoning[.]" Yes, that should warm the hearts of Dems and progressives everywhere. Mortgage crisis? Unemployment? Not Geithner's problem. Banks making obscene amounts of money? Job well done Timmeh. Sheesh.

Speaking for me only

Full post as published by TalkLeft on February 14, 2011 (boomark / email).