Krugman’s Preemptive Strike against Conservatives
Paul Krugman is looking ahead to 2010 and predicting how conservatives will “spin” the failure of Obamanomics:
A bit more information to go with my post on stimulus: forecasters surveyed by the WSJ predict, on average, that unemployment will reach 8.1 percent by end 2009 and peak at 8.4% — that is, it will keep rising into 2010. That’s a forecast of what will happen with the stimulus plan, not of what would happen absent stimulus, which would presumably be considerably worse.
Two points: 1. This suggests that the consensus is at least as grim as the scenario I laid out 2. This looks to me like an economy that could easily be spun by conservatives as a failure of Obama’s policies.