“Depression And Democracy” by Paul Krugman (TIMES, 12/12/11)


      Kudos to Paul Krugman for finally admitting that the economic downturn in the United States is, in fact, a depression.

     The situation is not yet as bad as the Great Depression (1929-1941) that had a stranglehold on the world economy of that period, but it is a depression nonetheless.  With a proper diagnosis of the seriousness of the problem, there is a better chance that relief can be found, even with the obstructionist Republicans opposing government remedies.

     Since the business community is unwilling to invest money in stimulating a recovery, it is the responsibility of the government to jump start the economy.  The USA needs another New Deal and a significant first step in that direction would be congressional support for President Obama’s $447 billion jobs proposal NOW!

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