November 6 — Slow Job or Snow Job?

From “Pointing Toward Prosperity?,” Paul Krugman, NYT:

“The point is that America is still suffering from an overall lack of demand, the result of the severe debt and financial crisis that broke out before Mr. Obama took office.  In a better world, the president would be proposing bold short-term moves to move us rapidly back to full employment.  But he isn’t.

“O.K., we all understand why.  Voters have been told over and over again that the 2009 stimulus didn’t work (actually it did, but it wasn’t big enough), and a few days before a national election is no time to try to change that big a false belief.  So all that the administration feels able to offer are measures that would, one hopes, modestly accelerate the recovery already under way.

“It’s disappointing, to be sure.  But a slow job is better than a snow job.  Mr. Obama may not be as bold as we’d like, but he isn’t actively misleading voters the way Mr. Romney is.  Furthermore, if we ask what Mr. Romney would probably do in practice, including sharp cuts in programs that aid the less well-off and the imposition of hard-money orthodoxy on the Federal Reserve, it looks like a program that might well derail the recovery and send us back  into recession.

“Mr. Obama may not have an exciting plan, but if he is re-elected, he will get to implement a health reform that is the biggest improvement in America’s safety net since Medicare.  Mr. Romney doesn’t have an economic plan at all, but he is determined not just to repeal Obamacare but to impose savage cuts in Medicaid.  … Think instead about the 45 million Americans who either will or won’t receive essential health care, depending on who wins on Nov. 6.”  Emphasis added.

And think about who will or won’t be appointed to the Supreme Court depending on who wins.

 

 

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