Wherein we confess to reading The New York Times
On page A31 of the print edition, Paul Krugman opines:
First things first: I was favorably surprised by the new Obama jobs plan, which is significantly bolder and better than I expected. It’s not nearly as bold as the plan I’d want in an ideal world. But if it actually became law, it would probably make a significant dent in unemployment.Meanwhile, on it's website, the Times reports:
Stocks on Wall Street declined sharply on Friday and bond prices soared after a speech by President Obama on jobs added to the uncertainty already weighing on financial markets over European sovereign debt and the weak economic recovery.We think there's an opportunity here for a real-world test: Monday morning, the White House should announce that the President is doubling the size of his "jobs" plan, from $440 billion to $880 billion. If the market tanks by 600 points (right now, it's down a bit over 300), then Krugman will shut up. If it rises, then I'll shut up.
Labels: Economics
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