Skip to main content

View Diary: Krugman: After the Flimflam (100 comments)

Comment Preferences

  •  Summers et al knew the economics in 2009, but (4+ / 0-)
    Recommended by:
    fenway49, Timothy J, opinionated, chimene

    Summers & Rahm gave PBO lousy POLITICAL advice -- namely, that fighting for an adequate stimulus would be a political loser.  Same with the public option for Obamacare.  This advice played into PBO's apparently neurotic compulsion to plat "the adult in the room" grand bargainer.  So we got Chamberlain instead of Truman and 2010, which we're gonna get again if PBO doesn't change course soon -- any "Grand Bargain" achieved will DEFLATE the base rather than pliny it up and 2010 will look like a garden party compared to 2014.

    "If you don't read the newspapers, you're uninformed. If you do read the newspapers, you're misinformed." -- M. Twain

    by Oliver St John Gogarty on Fri Mar 15, 2013 at 09:43:51 AM PDT

    [ Parent ]

    •  As did Krugman. Who wrote about it -extensively. (3+ / 0-)
      Recommended by:
      opinionated, fenway49, chimene

      Prof K rightly predicted that:
      1. PBO would get one bite at the apple - getting the stim right, or going too small and give critics plentiful ammo
      2. Summers was an idiot for going too small, and for thinking we'd get more than one shot at it
      3. PBO was dangerously naive to pay Summers any heed.  

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site