Last night Rachel Maddow had NYT columnist Paul Krugman on to further discuss the problem Nouriel Roubini apparently put in her head earlier this week: is a sustained bad economy good for Republicans?
Krugman, who has been a increasingly harsh critic of Obama, said "the things the Republicans are opposing are exactly the things we need right now to get ourselves out of this trap." And (probably not surprisingly) advocated for more stimulus. A lot more. "At least as big as we already got," said Krugman.
He also thinks that the controversial tax deal Obama made is that big a deal: "if it's really just for two years...it's not going to matter." But that the reason to get upset is that we're going to have to "play this whole game again" in two years and there is always the chance they will become permanent.
Asked Maddow: "Are there are no responsible economists that the Republicans will listed to who will make the case about the need for stimulus?"
Nope!
Said Krugman: "Those people have been driven out or scared into silence....we've seen all sanity driven from one of our two great political parties." Video below.
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