The Truth
Last night, I was running around the rumpus room shouting something along these lines at the TV:
Look at it this way: The Bush administration’s economic plans have not changed significantly since the fall of 1999, when they were introduced as a way to ward off a challenge from Steve Forbes. Back when the tax cut that eventually became law was announced, “Dow 36,000″ was climbing the best-seller lists. The economic environment has changed completely; the administration’s plans haven’t changed a bit.
Our economic problems are real, but by no means catastrophic. What scares me is the utter inflexibility of the people who should be solving those problems.
Unfortunately the TV wasn’t on, but that doesn’t make Paul Krugman’s words any less true.