Do Something, Now!

by Young Back Choi

Paul Krugman complains the centrist US Senators’ attempt to whittle down the House stimulus plan by some $80 billion “eliminates hundreds of American jobs, deprives millions of adequate health care and nutrition, [and] undermines schools….” If not more government spending is eliminating jobs and depriving people of goods, then, obviously, the government should spend more. In fact, Krugman believes that the $800 billion House stimulus plan “wouldn’t have been enough to fill the looming hole in the US economy.” Krugman has indeed been arguing for government spending without any restraint. Are we to believe the assertion of last year’s Nobel Laureate in Economics that government spending will solve the problem of scarcity? Continue reading