Must-Read: Obama vs. Krugman

Quick diary here.  American Prospect co-founder and editor-in-chief, Robert Kuttner has some high praise for Barack Obama's economic speech, given yesterday in New York.

Kuttner:  Obama v. Krugman

This is a must-read article.  Please take the time to read the whole thing (its not long).

On Obama:

Astounding! I wish I had written the speech. It is this kind of leadership and truth-telling that is the predicate for the shift in public opinion required to produce legislative change. A radical, appropriately nuanced, and deeply public-minded description of what has occurred, the speech was Roosevelt quality: the president as teacher-in-chief. Those who felt that Obama was capable of real growth that will transcend the campaign's early and somewhat feeble domestic policy proposals should feel vindicated.

On Clinton:

If you read Clinton's March 24 speech on the housing crisis and how to fix it -- supposedly more robust than Obama's remedy -- she offers the same Frank-Dodd bill. She does not locate the mortgage crisis in the deeper financial one. And her idea of turning, for wise men, to Robert Rubin and Alan Greenspan -- more than anyone the people who gave us this crisis -- is appalling.

And in response to today's column by Paul Krugman:

But Krugman, ordinarily an ornament of fair-minded progressive economics commentary, writes almost as if he has become part of the Clinton campaign. His latest characterization of Obama's proposals in commenting on the New York speech -- "cautious and relatively orthodox" -- was preposterous.

Kuttner is no Obama slappy, having at times been very critical of him.  This praise of his economic plan is big.  And for team Clinton-Krugman: ouch.