Today’s column begins “There has been plenty to criticize about President Obama’s handling of the economy.” And then he goes on to criticize Congress for “this week’s refusal to implement debt relief by the acting director of the Federal Housing Finance Agency…” For a minute I was concerned that Krugman had adopted views dangerous to his continued employment by the New York Times.
Further reading relieved my fears. The debt relief he is calling for would increase the federal debt. (I should have known better than to think otherwise.) The debt relief he espouses is government assistance for people who bought houses with mortgages they could not afford.
The columnist closes with “As I said, Mr. Obama has made plenty of mistakes.” “If our economy is still deeply depressed, much – and I would say most – of the blame rests not with Mr. Obama but with the very people seeking to use that depressed economy for political advantage.”
There you have it, straight from the pen of a Nobel Prize Winning economist. The President has made plenty of mistakes but when it comes to Barack Obama even his own mistakes are not his fault.
Pingback: Why are so Many U.S. Cities Filing for Chapter 9 Bankruptcy? « Debt … | The Bankruptcy Direction
Pathetic – but as expected from Krugman. What is frightning is that so many people drink his Kool Aid which contains FDC-approved Red dye.