Krugman Interview

by Mary

Posted by Mary
Liberal Oasis has a fascinating interview with Paul Krugman up today as his new book is hitting the book stores.

When Paul Krugman was asked whether the tax cuts could result in kick starting the economy, he replied:

And the main thing to say is: gosh, if you let me run a 500 billion dollar deficit, I could create a whole lot of jobs. That’s roughly equal to the wages of 10 million average workers.

So the fact that we’ve managed to go from a 200 billion surplus to a 500 billion deficit, while losing three million jobs, is actually a pretty poor verdict on the policy.

I like his use of "average" here -- it's a nice refutation of Bush's average tax cut. I sure am glad that we have Paul Krugman helping spread the word.