Down the rabbit hole:
No, the government shouldn’t budget the way families do; on the contrary, trying to balance the budget in times of economic distress is a recipe for deepening the slump. Spending cuts right now wouldn’t “put the economy on sounder footing.” They would reduce growth and raise unemployment. And last but not least, businesses aren’t holding back because they lack confidence in government policies; they’re holding back because they don’t have enough customers — a problem that would be made worse, not better, by short-term spending cuts.
For any reader I may have who do not salivate at the prospect of a permanent eradication of unemployment at the cost of permanent poverty and a totalitarian government enforcing it–like Krugman must, as it is otherwise hard to see how anyone with an IQ over 100 could be so stupid–I suggest education.
Start with Henry Hazlitt’s “Economics in One Lesson”.
Then read either “The Fatal Conceit”, or “The Road to Serfdom”, by Friedrich Hayek.
Then read “FDR’s Folly”, by Jim Powell.
Then read anything that appeals to you from Thomas Sowell or Paul Johnson, both of whom have written a lot of books.
Here are the net truths: the ideas proposed by Krugman will cause economic malaise; they will hurt the poorest Americans the worst; they will decrease our economic and political liberty; they support totalitarianism; and they are supported by totalitarians.
There is nothing nice about this man or the empirically discredited notions he spends so much time–and let’s be clear, makes so much money–hawking to ignorant and gullible people.