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NEWS ABOUT: Paul Krugman

Don't Just Be Afraid Amid Market Chaos—Be Angry

Deficit hawks exploited this crisis and made it worse: Krugman

(Newser) - All this stock market turbulence should make you not only afraid but mad, writes Paul Krugman in the New York Times . That's because deficit hawks have worsened the mess by "hijacking" the crisis to focus on their “favorite hobbyhorse," he writes. "What the market was... More »

Sorry, Our Economy Has Never Been on the Mend

Washington better get focused on jobs fast: Paul Krugman

(Newser) - For far too long, we’ve been preoccupied with “the wrong worries,” focusing on the deficit when we should have been working on job creation, writes Paul Krugman in the New York Times . Now we’re seeing the fallout from that misguidedness. “Those plunging interest rates and... More »

Don't Let Bankers 'Off the Hook'

Deals with banks for paltry sums won't fix the crisis: Paul Krugman

(Newser) - The mantra of recent US fiscal policy has been "go easy on the bankers," writes Paul Krugman in the New York Times . Trouble is, that attitude neither holds them accountable nor does it put us on the road to recovery. Now, federal officials are calling on states to... More »

Feds Have Given Up on Economy

'Short term is when government can be most effective': Paul Krugman

(Newser) - Not only has the US economy been "stuck in a rut," but now a "destructive passivity has overtaken our discourse," writes Paul Krugman in the New York Times . The common wisdom today is that there is nothing the government can do in the short run to... More »

Actually, We Need More Medicare

Lieberman's plan to raise eligibility to 67 would mean huge costs

(Newser) - Joe Lieberman’s proposal to raise Medicare eligibility to age 67 is proof that we’ve really “gone off the rails,” writes Paul Krugman in the New York Times . Really, we should be doing the opposite: extending Medicare, because it “actually saves money—a lot of money—... More »

Obama Must Call GOP's 'Bluff' on Debt Ceiling

Can't let hostage-holding House run the country: Paul Krugman

(Newser) - Look out, President Obama: House Republicans have created another “hostage situation.” This time, they’re holding the debt ceiling for a ransom of big spending cuts, writes Paul Krugman in the New York Times . The Republican Party doesn't control the White House or the Senate, so you... More »

Blame Elite, Not Voters, for Deficit Mess

Those 'lecturing' on deficit helped get us here in the first place: Paul Krugman

(Newser) - More and more people have been telling Paul Krugman that the budget deficit is the people’s fault: “Weak-minded politicians catered to the electorate’s foolishness.” But that viewpoint is not only “self-serving, it’s dead wrong,” writes Krugman in the New York Times . Instead, we... More »

House Progressives Release Their Own Budget

Ends Bush tax cuts, adds public health care option

(Newser) - As the budget debate continues, the House Progressive Caucus has released a plan of its own—and it's all about taxes. Their proposal would end the Bush tax cuts, add new tax brackets for millionaires, and raise corporate taxes. It would also add a public option to health care... More »

Stop Calling Sick People 'Consumers'

Market-based health care is sickening, Paul Krugman argues

(Newser) - Congressional Republicans took aim at the advisory board designed to reduce Medicare costs this week, arguing that what we really need is to make government health care “more responsive to consumer choice.” Which left Paul Krugman with one question: “How did it become normal, or for that... More »

Barack Obama Has Gone AWOL

Not only is Obama caving to the GOP—he's 'celebrating' it, writes Paul Krugman

(Newser) - Barack Obama has left the building. Granted, with Republicans running amok, all Obama really has is “the bully pulpit,” but incredibly, “he’s using it to reinforce his enemies’ narrative,” writes Paul Krugman in the New York Times . Maybe he did have to make big concessions... More »

Ethics, Science Both Inconvenient for Climate Deniers

High stakes demand high seriousness, not 'cynical careerism': Krugman

(Newser) - Climate change deniers aren’t just flouting scientific evidence—they’re flouting morals, writes Paul Krugman in the New York Times . Case in point: Last week, Republicans invited a pair of scientists to testify at a Congressional hearing on climate science. When Berkeley’s Richard Muller, a climate change skeptic,... More »

Lesson From Europe: 'Savage Austerity' Won't Help

Paul Krugman: Portugal, Ireland, UK learned the hard way

(Newser) - Just a few years ago, global leaders knew they had to focus on job creation before they tackled deficits. But that strategy “has been abandoned in the face of phantom risks and delusional hopes,” writes Paul Krugman in the New York Times . Now, it’s all about reducing... More »

Washington Has Abandoned the Unemployed

Krugman: Why are we obsessed with the deficit when millions need jobs?

(Newser) - One-sixth of American workers can’t find full-time jobs, and things aren’t getting any better for them: There are nearly five times more jobless people than there are job openings, and the "average unemployed worker has been jobless for 37 weeks." Yet all we hear about from... More »

GOP Cuts Would Destroy Recovery

House Republicans relying on 'Confidence Fairy' with job-killing measures

(Newser) - We’re finally clawing our way up from the bottom of the very deep hole that is the recession: Unemployment has dipped amid a "virtuous circle of rising incomes and improving finances." Yet House Republicans are pushing spending cuts that would send us right back down again, writes... More »

Wisconsin Battle About Power, Not Budget

Gov. pushing oligarchy as unions seek democracy: Paul Krugman

(Newser) - Wisconsin’s battle over union rights shares a key element with the protests in Egypt: In the end, it’s all about power, writes Paul Krugman for the New York Times . Gov. Scott Walker’s team is trying to make his state, and eventually the entire country, "less of... More »

Here's a Slogan for the GOP: 'Eat the Future'

Republicans' spending cuts will hurt in the long run, writes Paul Krugman

(Newser) - Paul Krugman would like to suggest a slogan for the Republicans' budget plan: "Eat the future." After all, their proposal is all about making cuts to "programs whose benefits aren’t immediate," he writes. The cold, hard truth (bolstered by a recent Pew survey) is that... More »

Mighty China Has a Financial Mess Brewing

Paul Krugman: Its leaders look lost dealing with it, like ours

(Newser) - China may be a burgeoning economic superpower, but it’s also embroiled in a monetary fiasco that could turn into a genuine crisis, warns Paul Krugman in the New York Times . The problem is China’s refusal to let its currency rise. The policy has obviously vexed the US, “... More »

GOP's Health Reform 'Analysis' Is Assault on Logic

They don't really believe it will kill jobs, writes Paul Krugman

(Newser) - In their effort to repeal health care reform, the GOP has produced “some numbers and charts to wave at the press”—but they’re not part of any “rational discussion,” writes Paul Krugman in the New York Times . Their figures are, in fact, part of the... More »

'Political Morality' Divides America

Krugman: We can't agree on fundamentals; let's strive to raise the tone

(Newser) - Calls for unity are welcome, but it’s time we face facts: America is a country “deeply divided” by “fundamental disagreement about the proper role of government,” writes Paul Krugman in the New York Times . The left believes the wealthy should be taxed to help the poor;... More »

Why the Euro Was a Horrible Mistake

And how Europe can rectify it

(Newser) - Europe is a little like a classic Greek tragic hero, brought low by a singular act of hubris: the creation of the euro. In a lengthy piece in the New York Times , Paul Krugman argues that the euro was always a dubious idea, but European leaders “engaged in magical... More »

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