Paul Krugman: A slow job is better than a snow job - Post Bulletin

Paul Krugman: A slow job is better than a snow job - Post Bulletin:

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 The point is that America is still suffering from an overall lack of demand, the result of the severe debt and financial crisis that broke out before Obama took office. In a better world, the president would be proposing bold short-term moves to move us rapidly back to full employment. But he isn't.

OK, we all understand why. Voters have been told over and over again that the 2009 stimulus didn't work (actually it did, but it wasn't big enough), and a few days before a national election is no time to try to change that big a false belief. So all that the administration feels able to offer are measures that would, one hopes, modestly accelerate the recovery already under way.

It's disappointing, to be sure. But a slow job is better than a snow job. Obama may not be as bold as we'd like, but he isn't actively misleading voters the way Romney is. Furthermore, if we ask what Romney would probably do in practice, including sharp cuts in programs that aid the less well-off and the imposition of hard-money orthodoxy on the Federal Reserve, it looks like a program that might well derail the recovery and send us back into recession.