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8.9.03

Krugman & Job Watch

Pois.

And it's the same for anyone who questions his economic record: "They tell me it was a shallow recession," he* said Monday. "It was a shallow recession because of the tax relief. Some say, well, maybe the recession should have been deeper. That bothers me when people say that."
That is, if you ask why he pushed long-term tax cuts rather than focusing on job creation, he says you wanted a deeper recession. It bothers me when he says that.
Of course, nobody says the recession should have been deeper. What critics argued — correctly — was that Mr. Bush's economic strategy of tax cuts for the rich, with a few token breaks for the middle class, would generate maximum deficits but minimum stimulus. "They" may tell him it was a shallow recession, but the long-term unemployed won't agree.
And the fact that even with all that red ink the recovery is still jobless should lead him to wonder whether he's running the wrong kind of deficits.


* Bush

Job Watch