The Phantom Menace (Photo via Cinematic Wallpaper)
Economist Paul Krugman is warning Obama that not putting more government money into the economy is a really bad idea. Job losses have spiraled past the official 10% mark (actually 17% according to some sources). Krugman says that Obama should be creating jobs and not wasting time on the US debt. That US debt according to Paul is the “phantom menace”.
US Debt A ‘Phantom Menace,’ Krugman Argues: “Au contraire, says Times columnist and Nobel Prize-winning economist Paul Krugman, who argues today that ‘Most economists I talk to believe that the big risk to recovery comes from the inadequacy of government efforts: the stimulus was too small, and it will fade out next year, while high unemployment is undermining both consumer and business confidence.’”
So what do you think? Is Paul Krugman right? Is Obama just being backed into a corner by Wall Street puppeteers?
RESOURCES
Will The Unemployment Disaster Be Obama’s Katrina?
The Phantom Menace — Paul Krugman
US Debt A ‘Phantom Menace,’ Krugman Argues
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