Paul Krugman - New York Times Blog

July 2, 2011, 12:05 PM 

Barack Herbert Hoover Obama

From today’s radio address:

Government has to start living within its means, just like families do. We have to cut the spending we can’t afford so we can put the economy on sounder footing, and give our businesses the confidence they need to grow and create jobs.

Yep, the false government-family equivalence, the myth of expansionary austerity, and the confidence fairy, all in just two sentences.

Read this and this to see why he’s wrong. This is truly a tragedy: the great progressive hope (well, I did warn people) is falling all over himself to endorse right-wing economic fallacies.

 

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Now compare that point to this one:


FOCUS: For Obama a Turn Towards Populism

Keith Laing, The Hill
The report begins: “President Obama is taking a populist turn with his assault on tax breaks for corporate jet owners. Obama is pressing Republicans to sacrifice part of the $3 billion tax credit in a deal to raise the federal debt ceiling.”

 

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