We have two brilliant, courageous educators who have promoted the understanding that the only way to get out of the economic downturn we have been in, is to do more stimulus spending, and have proved by what is going on in Europe that austerity is a disastrous policy, but they are too much ignored by many people, who choose to believe the conservative and Republican mantra on the economy, which is to do more of the same economic policies that have failed, those of George W. Bush, and Ronald Reagan before him.
Paul Krugman of Princeton University, winner of the Nobel Prize in Economics, and columnist for the New York Times, is a brilliant economist, and has called for a budget package that does not destroy the middle class any more than it is already!
So has Robert Reich, former Secretary of Labor under President Bill Clinton, and Professor of Political Economy at the University of California, Berkeley, who has advised policies that make sense, but is also ridiculed by those who do not understand our history, and the economic cycle!
To promote austerity is seen as wrong headed, and would lead to a disastrous downturn in the economy, something Great Britain’s government has discovered, and both men advise us NOT to follow the same course!
The future of the middle class and the poor is at stake, and we would be wise to respect and follow the advice and counsel of both Krugman and Reich at this delicate time!