Next Stimulus

Paul Krugman

If the next president is a Republican, he will be captive to the doctrine that tax cuts are the answer to all problems, and therefore won’t seek an effective response to the economy’s troubles.

And even if the next president is a Democrat, any serious stimulus plan would face intense, ideologically motivated opposition in Congress. Will the next president be prepared to fight for an effective plan? Or will we end up with a compromise like the one Congressional Democrats agreed to this year, legislation that assuages conservative objections at the cost of undermining the plan’s effectiveness?