“Structure of Excuses” by Paul Krugman (TIMES, 9/27/10)


          Kudos to Paul Krugman for asserting that the United States is not “suffering from a shortage of needed skills” but from “a lack of policy resolve.” This “Structural” arguement is the perennial excuse of the business community in hard times. They talked that nonsense during the Great Depression 1929-1941) and it is being repeated now.

           Therefore, the Obama administration has to acknowledge that only the government is capable of initiating the economic recovery the country desperately needs. The pump has to be primed with a massive federal jobs program that will return millions of the unemployed to work.

          Once back on the payroll, those millions will spend that money paying their rent or mortgages, buying food and clothing, paying their taxes, etc. They can’t afford to sir on their cash as the wealthy are doing now.

          The circulation of that money in the economy could stimulate some of the so-called “shakers and doers” to invest in the USA again.

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