Editors' Blog
Krugman on Bernanke
Krugman takes Bernanke to task for a) too little buying of long term assets (thus lowering long term interest rates); and b) not setting a higher inflation target (encouraging corporations to NOT sit on their money)--both policies Bernanke as professor argued were necessary tools to fight depression.
A Bad Budget Deal for the People
President Obama has struck a deal with the Republicans that is reminiscent of the policies associated with George HW Bush and Bill Clinton, that is, to reduce public spending in major areas while in a less direct way, taxation.
