Where Your Dreams Become Reality
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Subject: RE: Paul Krugman Tell U.S. to Get Off Its Ass and Implement a Decent Stimulus Program
Krugman isn't a socialist like the people at Cato or REASON mag will tell you.
He considers himself a rawlsian(veil of ignorance,etc).
Austerity is ok when growth is good. We need growth back, spend to get the economy going and cut back gradually. Its the debt:GDP ratio that really matters.
Europe can't borrow. America still can.
Oh, and China isn't going to surpsass the American economy for at least 20 years(they're GDP/capita is 1/4 of ours and their population is 4x as ours, and the world economic forum rated (in 2009) our economy as the most competitive.) China's economy is big, but not as sophisticated as other's like Japan.
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