Skip to main content

Krugman: "This is budgeting we can believe in"

  • Author:
  • Updated:

By Ben Cohen

A good sign for progressives - Paul Krugman is very impressed with Obama's budget:

President Obama’s new budget represents a huge break, not just with the

policies of the past eight years, but with policy trends over the past

30 years. If he can get anything like the plan he announced on Thursday through Congress, he will set America on a fundamentally new course.

The budget will, among other things, come as a huge relief to Democrats who were starting to feel a bit of postpartisan depression. The stimulus bill that Congress passed may have been too weak and too focused on tax cuts. The administration’s
refusal to get tough on the banks may be deeply disappointing. But
fears that Mr. Obama would sacrifice progressive priorities in his
budget plans, and satisfy himself with fiddling around the edges of the
tax system, have now been banished.

Obama probably won't be able to get everything he wants, but it is a mighty good start. Obama is promising to overhaul the health care system, and install a cap and trade system for CO2 emissions amongst other things, sending a big signal that he really is serious about change. Krugman's seal of approval does it for me, and the fact that Republicans are besides themselves with anger means it is probably the right thing to do.