Krugman: GOP has ‘no coherent theory’ behind obstructing economic stimulus package.

Posted on

"Krugman: GOP has ‘no coherent theory’ behind obstructing economic stimulus package."

Recently, Republicans leaders have been preparing for a fight over President-elect Obama’s economic stimulus package, which is designed to create three million new jobs, calling it “wasteful spending.” On MSNBC’s Rachel Maddow Show yesterday, Nobel Prize-winning economist Paul Krugman said that Republican leaders have “no coherent theory” behind their attacks, calling their obstructionism a mixture of “politics” and “suspicion.” Obama’s stimulus package may need to be bigger, he explained:

KRUGMAN: But we’ve lost 2 million in the past year. And we need more than a million extra jobs just to keep up with population growth. We’re already down 3 million jobs right now. … By the time any stimulus package gets going really, we’re going to be way down in the whole. Three million is not going to be enough actually to close the gap.

Watch it:


Update

Yglesias has more.

« »

By clicking and submitting a comment I acknowledge the ThinkProgress Privacy Policy and agree to the ThinkProgress Terms of Use. I understand that my comments are also being governed by Facebook, Yahoo, AOL, or Hotmail’s Terms of Use and Privacy Policies as applicable, which can be found here.