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Paul Krugman assesses the Democrat's response to recession fears

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By Ben Cohen

Here is Paul Krugman dissecting the Democrat presidential candidates policy suggestions for dealing with a recession. According to Krugman, Obama, interestingly, seems to be the most right wing:

From the NY Times: 

"Suddenly, the economic consensus seems to be that the implosion of
the housing market will indeed push the U.S. economy into a recession,
and that it’s quite possible that we’re already in one. As a result,
over the next few weeks we’ll be hearing a lot about plans for economic

Since this is an election year, the debate over how to stimulate the
economy is inevitably tied up with politics. And here’s a modest
suggestion for political reporters. Instead of trying to divine the
candidates’ characters by scrutinizing their tone of voice and facial
expressions, why not pay attention to what they say about economic

In fact, recent statements by the candidates and their surrogates about the economy are quite revealing.

Take, for example, John McCain’s admission that economics isn’t his
thing. “The issue of economics is not something I’ve understood as well
as I should,” he says. “I’ve got Greenspan’s book.”

His self-deprecating humor is attractive, as always. But shouldn’t
we worry about a candidate who’s so out of touch that he regards Mr.
Bubble, the man who refused to regulate subprime lending and assured us
that there was at most some “froth” in the housing market, as a source
of sage advice?

Meanwhile, Rudy Giuliani wants us to go for broke, literally: his
answer to the economy’s short-run problems is a huge permanent tax cut,
which he claims would pay for itself. It wouldn’t.

About Mike Huckabee — well, what can you say about a candidate who
talks populist while proposing to raise taxes on the middle class and
cut them for the rich?

To read the full article, click here.