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  •  Once again, Krugman proves (8+ / 0-)

    that he is a brilliant economist, but utterly naïve at politics.  

    Does he not remember the intransigence, even in the midst of crisis, of the Republicans in the development of the stimulus?  The economic policy we got was the best that our political system would allow given the urgency of the situation.

    It's as if Krugman forgot that it's a constrained optimization problem.

    You wanna f*%^ with Big Bird? You gotta come through me.

    by DaveV on Fri Sep 06, 2013 at 06:27:50 AM PDT

    •  Thank you. People love to criticise without (5+ / 0-)
      Recommended by:
      Tuffie, kkjohnson, StrayCat, DaveV, elwior

      fully understanding the problem.  The Republican't intransigence was the main reason the recent depression was so bad.  Partly Obama's fault was not convincing everyone how important stimulus was to avoid a complete catastrophe.  As cleverly noted above this has been a mitigated disaster thanks to the partial efforts.

      •  It's fair to credit Obama and Dems (4+ / 0-)
        Recommended by:
        BlueDragon, 3goldens, NYFM, elwior

        for mitigating the disaster. It's also possible they couldn't have done better (but since they didn't appear to try we'll never know). But Krugman's still right — the stimulus wasn't enough, and whoever is to blame, U.S. economic policy since 2008 has sucked rocks.

        Code Monkey like freedom / Code Monkey like peace and justice too
        Code Monkey very nerdy man / With big warm fuzzy bleeding heart
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        Formerly known as Jyrinx.

        by Code Monkey on Fri Sep 06, 2013 at 09:40:43 AM PDT

        [ Parent ]

    •  Nobody forced Obama to pretend (6+ / 0-)

      that the stimulus was big enough. Now everyone thinks it was a total failure. And that helped us lose the House in 2010.

      Plus, you seem to forget that, for a while, GOP intransigence meant bupkis. We had 60 votes in the Senate and 60% of the House.

      Code Monkey like freedom / Code Monkey like peace and justice too
      Code Monkey very nerdy man / With big warm fuzzy bleeding heart
      Code Monkey like you!

      Formerly known as Jyrinx.

      by Code Monkey on Fri Sep 06, 2013 at 08:26:36 AM PDT

      [ Parent ]

      •  60 votes... (3+ / 0-)
        Recommended by:
        qofdisks, DaveV, elwior

        ...For the period between when Al Franken finally got to take office and when Kennedy died.

        •  Which was good enough. (9+ / 0-)

          Krugman (again) was warning at the time the stimulus was being considered that:

          * It wasn't big enough or well-targeted enough to restore job growth.

          * When it didn't restore job growth, the GOP would use that failure to regain political power and discredit the whole idea of stimulus.

          Anyone could see that there was a great likelihood that we'd have one shot only, and that we ought to make the best of it. Our leaders should have remembered that the Clinton victory of 1992 was followed by the GOP landslide of 1994, which ended Clinton's ability to do any damn thing.

          We had one shot. We knew we might not have another. The Dems did a half-assed job of using the opportunity we had.

          "The true strength of our nation comes not from the might of our arms or the scale of our wealth, but from the enduring power of our ideals." - Barack Obama

          by HeyMikey on Fri Sep 06, 2013 at 08:40:56 AM PDT

          [ Parent ]

          •  Too bad Krugman doesn't understand politics. n/t (0+ / 0-)

            Code Monkey like freedom / Code Monkey like peace and justice too
            Code Monkey very nerdy man / With big warm fuzzy bleeding heart
            Code Monkey like you!

            Formerly known as Jyrinx.

            by Code Monkey on Fri Sep 06, 2013 at 08:43:04 AM PDT

            [ Parent ]

            •  He understands politics better than the Dems did. (2+ / 0-)
              Recommended by:
              elwior, Code Monkey

              Krugman called it right on the politics.

              * He warned that if the Dems didn't resoundingly succeed in restoring robust job growth, it would be a political disaster for the Dems. Correct; the 2008 Dem victory was followed by the 2010 electoral disaster, which (like the 1994 electoral disaster) ended the Dems' ability to get anything through Congress.

              * He also warned the Blue Dogs that by watering down the stimulus, they were endangering primarily their own futures. He pointed out that the Pelosis and Franks had safe seats, even if the Dem agenda foundered. It was the Blue Dogs whose electoral futures were riding on Obama's success. Correct; it was the Blue Dogs, not the liberal Dems, who lost their seats to the GOP in 2010.

              "The true strength of our nation comes not from the might of our arms or the scale of our wealth, but from the enduring power of our ideals." - Barack Obama

              by HeyMikey on Fri Sep 06, 2013 at 10:51:47 AM PDT

              [ Parent ]

          •  It's the most basic rule of thumb... (3+ / 0-)
            Recommended by:
            HeyMikey, elwior, Code Monkey

            ...to never ever plan for more than one trip to the well.

        •  Right. For seven months. (6+ / 0-)

          Remember how we made maximal use of that time to push through all that awesome shit? Me neither.

          Besides, no matter whose fault it is, Krugman's point still stands — macroeconomic policy since 2008 has been dismal. If an adequate response was unrealistic, that says our system is broken, not that Krugman is naïve.

          Code Monkey like freedom / Code Monkey like peace and justice too
          Code Monkey very nerdy man / With big warm fuzzy bleeding heart
          Code Monkey like you!

          Formerly known as Jyrinx.

          by Code Monkey on Fri Sep 06, 2013 at 08:41:42 AM PDT

          [ Parent ]

      •  60 votes (0+ / 0-)

        For real?  Counting Joe Lieberman?  How about Ben Nelson?  Mark Pryor?  Jon Tester?

        The mind boggles.

        You wanna f*%^ with Big Bird? You gotta come through me.

        by DaveV on Fri Sep 06, 2013 at 09:45:03 AM PDT

        [ Parent ]

        •  Well then, we can't just blame GOP (0+ / 0-)

          obstruction, can we?

          Code Monkey like freedom / Code Monkey like peace and justice too
          Code Monkey very nerdy man / With big warm fuzzy bleeding heart
          Code Monkey like you!

          Formerly known as Jyrinx.

          by Code Monkey on Fri Sep 06, 2013 at 02:08:10 PM PDT

          [ Parent ]

    •  No, go back and read Brad DeLong from '08/'09 (1+ / 0-)
      Recommended by:
      BlueDragon

      There were many EO and Treasury options known at the time and that would have made radical differences in the economic, financial, and political landscapes that Obama chose not to exercise. Even if one accepts that Republicans' intransigence was handled in the best possible ways there's no defense for the current state of the economy. Besides, a political problem that happened 5 years ago and/or one's own failed decisions from that long ago should have been handled by now. The ship may still be afloat and the officers eating well but old holes in the hull are barely patched and leaking and though the sails are raised the anchors aren't.  

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