Krugman: OBAMA WON-"Indeed he did-and he should disregard the huffing and puffing of those who lost"

[kpete]

Op-Ed Columnist
Bad Faith Economics
By PAUL KRUGMAN
Published: January 25, 2009

As the debate over President Obama’s economic stimulus plan gets under way, one thing is certain: many of the plan’s opponents aren’t arguing in good faith. Conservatives really, really don’t want to see a second New Deal, and they certainly don’t want to see government activism vindicated. So they are reaching for any stick they can find with which to beat proposals for increased government spending.

...................

It’s true that the normal response to recessions is interest-rate cuts from the Fed, not government spending. And that might be the best option right now, if it were available. But it isn’t, because we’re in a situation not seen since the 1930s: the interest rates the Fed controls are already effectively at zero.

That’s why we’re talking about large-scale fiscal stimulus: it’s what’s left in the policy arsenal now that the Fed has shot its bolt. Anyone who cites old arguments against fiscal stimulus without mentioning that either doesn’t know much about the subject — and therefore has no business weighing in on the debate — or is being deliberately obtuse.

These are only some of the fundamentally fraudulent antistimulus arguments out there. Basically, conservatives are throwing any objection they can think of against the Obama plan, hoping that something will stick.

But here’s the thing: Most Americans aren’t listening. The most encouraging thing I’ve heard lately is Mr. Obama’s reported response to Republican objections to a spending-oriented economic plan: “I won.” Indeed he did — and he should disregard the huffing and puffing of those who lost.

more at:
http://www.nytimes.com/2009/01/26/opinion/26krugman.html?_r=1&ref=opinion

[havocmom]

1. Terrible-Twos: the small kids realize they are NOT the center of the universe,

but are not sure YOU know that. They tend toward demanding, belligerent behaviors in the hope you will come running to do their bidding like when they were the center (by their perceptions) of the universe.

Too much of the GOP behaves in pretty much the same way.

[Botany]

2. Paul Krugman has a nobel prize in economics

Rep. Boner and Sen. McChinless aka McConnell do not .....
I will go w/ the person who won the nobel prize everytime.

[liberalhistorian]

3. Oh, repubs aren't against government spending.

They're only against it when THEY aren't in charge of it. And WTF was their bailout for billionnaires bullshit if not 'gubmint spending? They're only against government spending if it benefits the non-have-mores.