Paul Krugman: Initial reaction to jobs program

[Kurt_and_Hunter]

Paul Krugman
December 8, 2009, 3:25 pm

Show me the money!

I’ll be on Lehrer tonight to talk about the new stimulus job-growth acceleration plan. But it’s going to be really hard, because it’s impossible to judge without some numbers.

As I understand it, what the administration is trying to do is leverage an inadequate amount of money into disproportionate job creation. Hence the jobs tax credit and the cash-for-caulkers program, each of which might — might — produce many more jobs per buck than a conventional stimulus. Basically, it’s about making policy in the face of a dysfunctional Congress.

But even so, it can’t be done without a significant amount of funds. If Robert Reich is right and it’s only $70 billion, it’s a Potemkin policy — all facade, virtually no substance.

How big do the numbers have to be to make it serious? It’s hard to see much impact with less than $200 billion — and what I really want to see is that including all the pieces, from COBRA extension to state aid, it’s much bigger than that.

So show me the money, and I’ll tell you what I think about the plan.

http://krugman.blogs.nytimes.com/2009/12/08/show-me-the-money/

[Cant trust em]

1. "Basically, it’s about making policy in the face of a dysfunctional Congress."

Krugman knows what's up.

[mkultra]

5. he knows like the rest of us that they are talking about 200billion

so im not sure what exactly hes trying to do here but its not honest.

[marginlized]

2. Too bad we can't vote for Krugman

He's got a Nobel too.

[gateley]

3. He was on my fantasy list for Obama hires -- wish O would have asked me. nt

[branders seine]

4. $11.5 Trillion for Goldman Sach executive bonuses and to slightly

reinflate the speculator's casino bubble...


$70 Billion for the people (most of which will probably be supply-side tax fiddling bullshit by the time Obama finishes being all bipartisan-y with the fascists)



At least Obama is honest enough not to trust "trickle-down" to deliver a few crumbs to the people.

[mkultra]

6. that number is bullshit and always has been

[branders seine]

8. yeah, it probably will be more like $50 Billion.

:rofl:

[NRaleighLiberal]

7. He did well on Newshour, against the Bush era idiot Bartlett -

just the typical Republican response to everything - "what's the rush - we can wait". it is just so clear to me that Republican leaders just want the entire middle class (and below) to disappear from the earth.

[glitch]

9. If the middle class disappears from the earth -- they're next. There won't be any need for appeasers

or collaborators.

[SemiCharmedQuark]

10. Always like to hear what Krugman thinks.

Thanks for posting.

Kickity kick.

[bluedigger]

11. "Cash for caulkers", he he.

Good one, Paul.