Paul Krugman

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Where Obama Went Wrong With 'Pundit Delusion'

Hint: It's not because he's too liberal

(Newser) - Pundits may argue that Barack Obama is too liberal, but they’re wrong, writes EJ Dionne of the Washington Post . The truth is that Obama is a center-left progressive, but because today’s politics are defined by the passionate political fringes, he’s not perceived that way. And that’s...

Gutless Fed Ignores Deflation
 Gutless Fed Ignores Deflation 
Paul Krugman

Gutless Fed Ignores Deflation

Bernanke should, and does, know better

(Newser) - Back in 2002, academic and then-lowly Fed official Ben Bernanke gave a speech explaining that we needn’t worry about falling into a deflation trap like the one that has long gripped Japan, because the Fed had all the tools to stop it. Well, now Bernanke runs the Fed, and...

Let's Face It: It's a Depression
 Let's Face It: It's a Depression 
Paul krugman

Let's Face It: It's a Depression

Savage cuts when governments should be spending will prove the fatal blow

(Newser) - Paul Krugman uses the D word today, arguing that we're now in the early stages of a third depression. It may turn out to be more like the Long Depression of the 19th century than the dreaded Great Depression, but that's not going to offer much succor to the legions...

Deficit Hawks Impervious to Math, Logic
Deficit Hawks Impervious to Math, Logic
Paul Krugman

Deficit Hawks Impervious to Math, Logic

It's the '30s all over again as Germany, US cut spending

(Newser) - Paul Krugman is in Germany, and he’s sparring with deficit hawks, in this case supporters of Angela Merkel’s new austerity plan. It “feels a bit like arguing with US Iraq hawks back in 2002,” he writes in the New York Times . “They know what they...

US Economy Needs Less Caution, More Spending
US Economy Needs Less Caution, More Spending
Paul Krugman

US Economy Needs Less Caution, More Spending

Forget deficit; fret over threat of 'lost decade'

(Newser) - No matter what you've heard panicked commentators say, the US is not the next Greece, and the government is not trying to do or spend too much in the face of the slumping economy. In reality, Washington isn't doing or spending enough, and as a result, the US could be...

Is US Like Greece? NYT Writers Disagree
 Is US Like Greece? 
 NYT Writers Disagree 
krugman vs. leonhardt

Is US Like Greece? NYT Writers Disagree

Our federal debt may or may not doom us

(Newser) - David Leonhardt warns in the New York Times today of the parallels between Greece and the US. "The basic problem is the same," he says. "Both countries have a bigger government than they're paying for." He cites a stat showing that our federal debt is projected...

Op-Ed Columnist - Oil Drilling, Disaster and Denial - NYTimes.com
Gulf Spill Will Make Us Care About the Planet Again
Paul Krugman

Gulf Spill Will Make Us Care About the Planet Again

Paul Krugman finds a silver lining in changing public opinion

(Newser) - We can't begin to guess the full devastation of the Deepwater Horizon disaster, but Paul Krugman finds an unexpected silver lining: Environmental destruction has become "photogenic again." Just as Earth Day was born four decades ago of an America sickened by images of Santa Barbara beaches coated in...

Real Subprime Scandal Is Ratings Firms, not Goldman
Real Subprime Scandal Is Ratings Firms, not Goldman
paul krugman

Real Subprime Scandal Is Ratings Firms, not Goldman

99% of AAA-rated subprime securities now junk

(Newser) - Goldman Sachs won't come out of the Senate financial reform hearings smelling of roses, but it's the much bigger stink coming from credit ratings firms that lawmakers should focus on, warns Paul Krugman. Emails released by the Senate subcommittee probing the financial crisis show how corrupt the system of credit...

Krugman: Don’t Cry for Wall Street - NYTimes.com
 Obama, Please Screw the Banks 
Paul Krugman

Obama, Please Screw the Banks

President doesn't have to play nice with these guys

(Newser) - Barack Obama went to New York yesterday to beg Wall Street to play nice on financial reform, and Paul Krugman really wishes he hadn't. Obama said reform would ultimately help the financial industry, but Krugman doesn't see the need to play nice with the big banks. “Reform actually should...

It's Time to Stop the Looters on Wall Street
It's Time to Stop the Looters on Wall Street
Paul Krugman

It's Time to Stop the Looters on Wall Street

And financial reform is the only way to do that

(Newser) - The SEC's charges against Goldman Sachs reveal a whole new kind of fraud at work in the financial crisis, writes Paul Krugman of the New York Times . If Goldman had simply sold securities while betting they would fail, it would be “reprehensible” but not illegal. But selling securities deliberately...

Republicans Want to Abolish Financial Firemen
Republicans Want to Abolish Financial Firemen
Paul Krugman

Republicans Want to Abolish Financial Firemen

McConnell is doing Wall Street's bidding

(Newser) - Mitch McConnell wants to abolish fire departments—they just bail out burning buildings. We won’t get out of this mess until the biggest buildings are allowed to burn! That’s essentially what McConnell’s latest assault on financial reform amounts to, writes Paul Krugman in the New York Times ...

Financial Reform: 'Punks' Take on Plutocrats
 Financial Reform: 
 'Punks' Take on Plutocrats 
PAUL KRUGMAN

Financial Reform: 'Punks' Take on Plutocrats

GOP argument against reform is upside-down, writes Paul Krugman

(Newser) - With financial reform on deck, Senate Republicans are busily figuring out how many "can get away with claiming that war is peace and regulating big banks is doing those big banks a favor," writes Paul Krugman in the New York Times . Alabama's Richard Shelby is portraying efforts to...

3 Big Myths About Health Care Reform
 3 Big Myths About 
 Health Care Reform 
PAUL KRUGMAN

3 Big Myths About Health Care Reform

Don't be taken in by misinformation, warns Paul Krugman

(Newser) - Health care reform has made a miraculous comeback but its opponents are going to try to hoodwink the public with misinformation and lies down the home stretch, writes Paul Krugman. He outlines "three big myths" about reform in the New York Times .
  • "The government is grabbing control of
...

Bunning Shows Dems, GOP Are In Different Worlds
Bunning Shows Dems, GOP Are In Different Worlds
PAUL KRUGMAN

Bunning Shows Dems, GOP Are In Different Worlds

Time to give up on bipartisanship, writes Paul Krugman

(Newser) - The big lesson from Sen. Bunning's blockade of unemployment benefits is that the Democrats and Republicans are now in totally different universes, writes Paul Krugman. This is amply demonstrated by Republicam Senator Jon Kyl of Arizona's threat to block a bill extending benefits for the rest of the year in...

Krugman on Finance Reform: Go Big, or Go Home
Krugman on Finance Reform: Go Big, or
Go Home
OPINION

Krugman on Finance Reform: Go Big, or Go Home

No reform better than current Senate bill

(Newser) - Paul Krugman comes out against passing a watered down financial regulatory reform bill today, saying the current Senate bill would provide only a “false sense of security and a fig leaf for politicians opposed to any serious action.” Republicans, driven by bank lobbyists and their strategy of opposing...

How Paul Krugman Became a Liberal

New York Times economist wasn't always political

(Newser) - Believe it or not, Paul Krugman once worked for Ronald Reagan. It’s not that Krugman was conservative; it’s that he just wasn’t political. He was an academic, and only vaguely aware of the growing right-left divide. “I feel now like I was sleepwalking through the twenty...

Mighty America Descends Into Farce
Mighty America Descends
Into Farce
PAUL KRUGMAN

Mighty America Descends Into Farce

Paralyzing GOP tactics make us look like 18th-century Poland

(Newser) - When Richard Shelby put a hold on all outstanding Obama nominees last week, it reminded Paul Krugman of 18th-century Poland. Back then, the country’s legislature was run by unanimous consent, so anyone could block any legislation by shouting, “I do not allow!” Sound familiar? The US Senate,...

Beware of Deficit Hysteria
 Beware of Deficit Hysteria 
PAUL KRUGMAN

Beware of Deficit Hysteria

GOP's fiscal fear-mongering hurts jobless

(Newser) - The "deficit hysteria" spreading throughout Washington and the media reminds Paul Krugman of the fear-mongering about weapons of mass destruction ahead of the Iraq war. Assertions that the deficit will doom the economic recovery and undermine America's place in the world are being tossed about as if they're facts,...

Ignore Glimmers of Hope, Economy's Still in the Tank
Ignore Glimmers of Hope,
Economy's Still in the Tank
PAUL KRUGMAN

Ignore Glimmers of Hope, Economy's Still in the Tank

If Obama takes his foot off the gas, it'll be 1937 all over again

(Newser) - Don’t believe the hype, ignore any rising GDP or employment figures, and whatever you do don’t call it a recovery—or we’re going to wind up right back where we started, argues Paul Krugman in the New York Times . There are indeed positive numbers coming, and with...

The Filibuster Must Be Stopped
 The Filibuster Must Be Stopped 
Paul Krugman

The Filibuster Must Be Stopped

The country was never intended to have supermajority rule

(Newser) - Health care reform shouldn’t have been a close vote. The Democrats campaigned on health care and won big, which “in any other advanced democracy” would have given them the power to enact reforms, writes Paul Krugman of the New York Times. But because Democrats needed 60 votes to...

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