Actually, what Krugman describes is very good news for President Obama (gee I like the sound of that) in terms of the economy despite the current mayhem. Since the Fed is now flaccid, and thirty years worth of economic "Experts" of the Friedman sect are on the last train to palukaville, the President essentially has a tabula rasa, in terms of the economy, to work with.
President Obama needs to be bold and not get bogged down in preexisting economic terminologies which would be red meat to the opposition. The need is ACTION not description. The President has a tremendous opportunity to do right by the American people economically, and as has been shown by individuals like Paul Krugman (who was less than supportive of Obama throughout the primaries) there are many passionate, learned individuals willing to roll up their sleeves and aid the incoming Administration in getting America back on track.
Despite the challenges facing the United States presently, if we all pitch in and take ownership of our responsibility as citizens, and with President Obama and the minds around him on the bridge of our Ship of State, we may all have a the voyage of a lifetime before us ... icebergs or not.
About Paul Krugman
Read the Article at HuffingtonPost
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