Paul Krugman for OMB?

[DarrinS]

Good Lord! WTF is this dude smokin?


http://www.huffingtonpost.com/simon-..._b_621105.html

The president should nominate Paul Krugman to replace Peter Orszag as director of the Office of Management and Budget (OMB). (Orszag resignation details are here.)

We have previously reviewed Krugman's outstanding qualifications for this (or any other top level) job (link to details). The main reason Krugman himself has been reluctant in the past relates to a potentially difficult Senate confirmation hearing -- for example, if Krugman had been put forward to replace Ben Bernanke.

But for the OMB position, the dynamic of a hearing would be terrific for the president's specific agenda and broader messages. Krugman, of course, is the leading advocate for continued (or increased) fiscal stimulus. This is exactly President Obama's message to the G20 this weekend.

Plus, when Republicans push back against Krugman on this issue, he will let them have it full blast on fiscal policy during the Bush administration. Krugman has, again and again, been an outspoken critic of the Bush era fiscal policy. He has precise chapter and verse on where the Bush team went off the deep fiscal edge.

Krugman also stands for responsible medium-term fiscal policy -- he wrote the original definitive work, after all, on balance of payments crises. But the point is not to engage in precipitate and panicky fiscal austerity (as announced in the UK today), but rather to put the overall debt onto a sustainable path. It is very hard to do that when the people claiming the represent "fiscal prudence" are actually the ones who created this massive mess in the first place. Krugman can set the public record straight on this -- it would be great television and very good economics.

This is exactly what the debate on our current deficit and future debt path needs. The Obama administration lost the narrative on this point also (as well as on banking and much more). Paul Krugman can get them back on track.

[clambake]

you have a problem with krugman?

[DarrinS]

you have a problem with krugman?

Dude loves him some big govt and big stimulus. Why would I have a problem with him?

[clambake]

would have crashed and burned without it.

just ask bush.

[boutons_deux]

If US does fall into a "lost decade" like Japan did in the '90s, then PK will be vindicated.

The Repugs are only interested in causing as much pain to citizens as possible to further their political agenda of destroying Magic Negro. eg, blocking extension of long-term unemployed benefitrs and COBRA subsidies.

[Wild Cobra]

Obumbler need a guy that will run the numbers like he wants them.

[Yonivore]

I'd say at this point, it doesn't really matter...kind of like putting Porky Pig at the helm of the anic after it hit the iceberg.

[angrydude]

would have crashed and burned without it.

just ask bush.

you're right. the credit markets would have frozen, banks would be failing all over the country, businesses wouldn't be hiring any workers and there would be massive layoffs. O wait,......

[clambake]

you're right. the credit markets would have frozen, banks would be failing all over the country, businesses wouldn't be hiring any workers and there would be massive layoffs. O wait,......

so....you didn't ask bush?

[Aggie Hoopsfan]

If US does fall into a "lost decade" like Japan did in the '90s, then PK will be vindicated.

The Repugs are only interested in causing as much pain to citizens as possible to further their political agenda of destroying Magic Negro. eg, blocking extension of long-term unemployed benefitrs and COBRA subsidies.

If you think he'd be vindicated by that, you're dumber than I thought.

By the way, props to being the biggest racist on the board with your 'slang' for Obama on here.