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Unemployment is the real issue in the country

Paul Krugman

Sunday, Dec. 9, 2012 | 2 a.m.

Let’s get one thing straight: America is not facing a fiscal crisis. It is, however, still very much experiencing a job crisis. It’s easy to get confused about the fiscal thing, since everyone’s talking about the “fiscal cliff.” Indeed, one recent poll suggests that a large plurality of the public believes that the budget deficit will go up if we go off that cliff. In fact, of course, it’s just the opposite: The danger is that the deficit will come down too much, too fast. And the reasons that might happen are purely political; we may be about to slash ...

Paul Krugman is a columnist for The New York Times.

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Discussion: 2 comments so far…

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By CarmineD (Carmine DiFazio)

Dec. 9, 2012

5:50 a.m.

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More of Dr. Krugman's keysnesian kabuki. Look to Europe for debunking of the Keynes economic theories. If this doesn't convince Krugman, nothing will. Long live Mises, Friedman, and Hayek. Each and all trump Keynes and Krugman.

CarmineD
By Roslenda (Roberta Anderson)

Dec. 9, 2012

2 p.m.

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Oh, it's NOT about class. Anything but. Senator Harry and company just sat around politicking while real estate dove deeper and deeper. It doesn't take CBO or GAO to clue in that there would be consequences. While government interference is seldom desired, it was the government that CAUSED the real estate crash: FAILURE TO enforce regulations on the mortgage industry.