Krugman: Credit Where It Isn't Due

[BurtWorm]

http://krugman.blogs.nytimes.com/2010/03/17/credit-where-it-isnt-due/

March 17, 2010, 4:14 pm
Credit Where It Isn’t Due

I’m not usually interested in White House intrigue, and I’m no Kremlinologist, but it does seem bizarre to claim that Democratic consolidation behind Obamacare is a vindication for Rahm Emanuel, of all people.

The story as everyone reported it was that after the Massachusetts election, Emanuel wanted Obama to go small, basically give up on comprehensive health reform — and that Emanuel lost out when Obama decided to go big instead. Now the fact that going big looks likely to get through Congress — not in the bag yet, of course — and that if it does, it will almost surely be good for the Democrats, confirms that … Emanuel was right?

Actually, does anyone remember the 2006 midterms? As I recall it, Emanuel wanted Dems to stay quiet about Iraq, and run on the economy — but was overruled. And then when Dems pulled out a historic victory, he claimed credit.

I kind of like this approach. When Obama switches to harsh fiscal austerity, and the Fed sharply raises rates — and despite everything I’ve been saying, the economy prospers — I’m going to call it a vindication of my economic wisdom.