Winner 2013 Webby Awards for Best Political Website
Top Banner, Site wide
Apr 20, 2014

 Choose a size
Text Size

Top Leaderboard, Site wide

First Solar Bread Oven Takes a Bow
Drought Adds to Syria’s Misery




The Divide


Truthdig Bazaar more items

 
Ear to the Ground

Krugman: Praise for Bernanke, Criticism for Romney

Email this item Email    Print this item Print    Share this item... Share

Posted on Sep 17, 2012
By davelawrence8

In his latest takedown of Mitt Romney, New York Times Op-Ed columnist Paul Krugman criticizes the Republican presidential nominee for his stance on the Federal Reserve’s latest effort to jump-start the economy—a move that, by the way, Krugman praises.

Paul Krugman in The New York Times:

And Republicans, as I said, have gone wild, with Mr. Romney joining in the craziness. His campaign issued a news release denouncing the Fed’s move as giving the economy an “artificial” boost — he later described it as a “sugar high” — and declaring that “we should be creating wealth, not printing dollars.”

Mr. Romney’s language echoed that of the “liquidationists” of the 1930s, who argued against doing anything to mitigate the Great Depression. Until recently, the verdict on liquidationism seemed clear: it has been rejected and ridiculed not just by liberals and Keynesians but by conservatives too, including none other than Milton Friedman. “Aggressive monetary policy can reduce the depth of a recession,” declared the George W. Bush administration in its 2004 Economic Report of the President. And the author of that report, Harvard’s N. Gregory Mankiw, has actually advocated a much more aggressive Fed policy than the one announced last week.

...So last week we learned that Ben Bernanke is willing to listen to sensible critics and change course. But we also learned that on economic policy, as on foreign policy, Mitt Romney has abandoned any pose of moderation and taken up residence in the right’s intellectual fever swamps.

Read more

More Below the Ad

Advertisement

Square, Site wide

New and Improved Comments

If you have trouble leaving a comment, review this help page. Still having problems? Let us know. If you find yourself moderated, take a moment to review our comment policy.

Newsletter

sign up to get updates


 
 
Right 1, Site wide - BlogAds Premium
 
Right 2, Site wide - Blogads
 
Join the Liberal Blog Advertising Network
 
 
 
Right Skyscraper, Site Wide
 
Join the Liberal Blog Advertising Network
 

A Progressive Journal of News and Opinion   Publisher, Zuade Kaufman   Editor, Robert Scheer
© 2014 Truthdig, LLC. All rights reserved.