Paul Krugman¹ is an unreconstructed New Dealer. He wants a massive increase in federal spending—far more than President-Elect Barack Obama has proposed, which is already far too much. Why is it the government's responsibility to smooth out business cycles? The only thing the government should be doing is lowering taxes, so that individuals can decide for themselves what to do with their money.
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¹"Op-Ed columnist Paul Krugman has the disturbing habit of shaping, slicing and selectively citing numbers in a fashion that pleases his acolytes but leaves him open to substantive assaults" (Daniel Okrent, "13 Things I Meant to Write About but Never Did," The New York Times, 22 May 2005).
