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Politics : View from the Center and Left

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To: JohnM who wrote (103209)	2/5/2009 12:10:27 PM
From: Steve Lokness	Read Replies (1) of 542598

John: You misunderstand Krugman, No I don't John, I disagree with him - but understand him just fine. Sure he thinks the stimulus plan is too small - I suspect a lot of people do. But you have to combine that thinking with being pragmatic and understanding what is possible. If you overreach, that just puts the entire plan in jeopardy. I too think there are too many tax cuts - but I realize that if there is any hope of getting a bill through the Senate, we're going to just have to accept them. as to the Wolf piece; He makes the same mistake that Krugman does - mainly that all we have to do is turn back the clock. Turn back the clock to what? Building more houses than we need? Having people massively in debt so they have to do three jobs to make the credit card payments? First, focus all attention on reversing the collapse in demand now, rather than on the global architecture. Steve

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