“A Cross of Rubber” by Paul Krugman (TIMES, 1/31/11)


          A respected economist like Paul Krugman should stop pussyfooting around this depression that has a stranglehold on the U.S. economy and identify it as such.

          If it has been with us since  “the end of 2007” (at least 12 quarters), doesn’t that alone mean it is a depression?

          All attempts to deny this fact by calling it “the worst slump since the Great Depression” or a “Great Recession” only further delays the relief that is urgently required.

          A broken leg cannot be mended properly if the attending physician thinks it is only a sprained ankle.

          The United States is mired in a depression which requires a massive federal jobs program NOW! We cannot wait until the next presidential election in November 2012.

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