Paul Krugman demonstrates, yet again, that he is the single most effective critic of the Obama Administration’s emerging economic policies, put through another series of harsh tests this week:
This was bad analysis, bad policy, and terrible politics. This administration, elected on the promise of change, has already managed, in an astonishingly short time, to create the impression that it’s owned by the wheeler-dealers. And that leaves it with no ability to counter crude populism.
A devastating judgment, and a difficult one for Obama, Geithner and company to counter.