Paul Krugman: This Republican Economy

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At www.nytimes.com

The Republican electoral strategy is, in effect, a gigantic con game: it depends on convincing voters that the bad economy is the result of big-spending policies that President Obama hasn't followed (in large part because the G.O.P. wouldn't let him), and that our woes can be cured by pursuing more of the same policies that have already failed. Republicans have been warning that we were about to turn into Greece because President Obama was doing too much to boost the economy; Keynesian economists like myself warned that we were, on the contrary, at risk of turning into Japan because he was doing too little.

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At www.nytimes.com


 

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