Paul Krugman really needs to stop going for cheap theatrics in his blogs and columns. In his books and longer articles, Krugman has great talent in explaining how the economy works. However, in his shorter stuff, Krugman's writing really leaves much to be desired, since he often goes for cheap rabble rousing, rather than informed analysis. So, here is good Krugman with a very nice comprehensive discussion of Obama's economic programs, rather than the 100 word screeds that get DUers in a bunch. I recommend ignoring Krugman the blogger, and focus on Krugman the economist and author of books and analytical magazine articles:
http://www.rollingstone.com/politics/story/26430979/obamas_bailout/snip
If these were normal times, it would be ludicrous to issue a report card on the Obama administration's economic policies. Only a few weeks have passed since the new president was sworn in, and many important economic positions have yet to be filled. As some wags put it, we're still at the stage when officials are trying to find their way to the bathroom.
But these aren't normal times. Barack Obama took office in the midst of the worst economic crisis since the Great Depression, a crisis requiring immediate action. Indeed, some people, myself included, had hoped that the outgoing Bush administration would work with the incoming team, allowing Obama to take action before moving into the White House. But it soon became clear that as Obama tries to deal with the crisis, he will get no help from Republican leaders. Instead, he'll face obstruction and lies.
So our new president is on his own, scrambling to meet a crisis that is far worse now than it was when he won the 2008 election. How's he doing?
The short answer is, very well by any normal standard — especially when you compare it with what a McCain–Palin administration would have done. Indeed, not since FDR has a new president moved so aggressively on the economic front./snip
In short, in this article, Krugman offers a very constructive critique of Obama's economic plan with less of the cheap theatrics of his blog entries.
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