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Politics : Liberalism: Do You Agree We've Had Enough of It?

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From: Kenneth E. Phillipps5/31/2010 9:30:55 AM
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Krugman: "Both textbook economics and experience say that slashing spending when you’re still suffering from high unemployment is a really bad idea — not only does it deepen the slump, but it does little to improve the budget outlook, because much of what governments save by spending less they lose as a weaker economy depresses tax receipts."

Yes, textbook economics does agree with Krugman.

nytimes.com
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