Wow. This is just about the nastiest insult liberals can dish out:
I’m not too happy with the policy justifications we’re getting from the administration. It’s perfectly clear that the stimulus was too small; I think they know that too. But they’ve made a political judgment that (a) they can’t push another round through and (b) the thing to do right now is defend the policy they already have.
Maybe they’re right. But it does bring back unpleasant echoes of what I thought of as the Bush administration’s Vegematic approach to tax cuts: it slices, it dices, it purees! In other words, whatever policy they had been advocating in the past was still the perfect answer to whatever problems the economy faces now.
Krugman follows by asserting that ‘Obama is nothing like Bush.’ Right – except for trying to sell his preconceived spending agenda as the perfect answer for everything that was wrong with America, he’s nothing like Bush.
It’s worth noting the implicit criticisms Krugman levels: Obama either doesn’t understand the problems with the economy or lacks the conviction to address those problems. Chalk up one more case of buyer’s remorse.