Monday, November 29, 2010

Not Impressed With Obama

Is Paul Krugman impressed with Obama's freezing of federal worker's salaries? I'm going to say not favorably:

Yep, that’s exactly what we needed: a transparently cynical policy gesture, trivial in scale but misguided in direction, and in effect conceding that your bitter political opponents have the right idea..

It could be that Obama is just very conservative economically, heavily influenced by the Chicago School at which he taught.

I tend to think though, that this battle is not one he wanted to fight anyway, so acting first might not have been a terrible idea, but Krugman's point that Obama is doing nothing to construct a credible narrative for intervention in the economy seems indisputable.