Krugman: But is the economy being cleaned up? ... A good case can be made for "YES".

[pampango]

Bill Clinton’s big speech tonight had him making the obvious argument:

In Tampa the Republican argument against the President’s re-election was pretty simple: We left him a total mess, he hasn’t finished cleaning it up yet, so fire him and put us back in.

But is the economy being cleaned up?



Between debt repayment, defaults, and — since recovery began in mid-2009 — rising income, the US has made a lot of progress in deleveraging. Add in the fact that we’ve worked off the excess construction from the Bush years, and there’s a pretty good case that the stage has been set for a much stronger recovery over the next few years.

http://krugman.blogs.nytimes.com/2012/09/05/is-the-economy-on-the-mend/