The Dems are poised for disaster in the upcoming election, and that’s not because President Obama has been too far to the left, or because he didn’t defend his policies well. If Republicans trounce the Dems, it will be because of the economy, Paul Krugman writes for the New York Times. President Obama’s fiscal stimulus was far too small, and the Democrats are about to pay the price.
Because the stimulus was inadequate, “the perception is that the administration’s policies have failed,” Krugman writes. But putting Republicans back in power would make things even worse; they’ve “learned nothing from the economic crisis, except that doing everything they can to undermine Mr. Obama is a winning political strategy. Tax cuts and deregulation are still the alpha and omega of their economic vision.” If they don’t do as well as predicted, maybe Obama will get a chance to put things right. But that’s unlikely—it looks like “we’re about to hit rock bottom.”
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