Wow, I had actually heard that argument, glad its been straightened outAgain, not a valid point. Dr. Krugman:
"It’s true that the normal response to recessions is interest-rate cuts from the Fed, not government spending. And that might be the best option right now, if it were available. But it isn’t, because we’re in a situation not seen since the 1930s: the interest rates the Fed controls are already effectively at zero."
Mr Krugman finishes saying that Republicans are throwing everything they have at Obama and hoping something will stick, and offering support to the new President over Obama's much reported "I won" statement to the GOP house representatives and asking the new President to stick with the plan.
Indeed, he did win. So if anyone out there starts to get jittery about the Stimulus package, remember, no longer are we going to listen to conservative dogma that got us into this mess. We're going to do what works. Spending is needed and spending is what we'll get.
Thank you again Mr. Krugman. We need more experts setting the record straight.
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