“Pain Without Gain” by Paul Krugman (TIMES, 2/20/12)


          Yes, Paul Krugman, it is long past the time “to put delusional beliefs about the virtues of austerity in a depressed economy behind us.” The evidence is overwhelming that proves such harsh measures are actually making things worse.

          President Herbert Hoover was wrong about that when the Great Depression swept the nation after the stock market crash of 1929 and the naysayers to “fiscal stimulus” are equally mistaken today.

          President Barack Obama has to implement a massive federal jobs program SOON. Waiting until the Democrats win the 2012 election, which is a long eight months away, might be too late.

          Moreover, despite the pathetic showing of the Republican candidates for president in the primaries, if the party finds a better one in a brokered convention, Obama may face a stronger GOP opponent that are challenging him now.

A. Garavente

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