A return to Rubinomics? | Arkansas Blog

Friday, December 22, 2006

A return to Rubinomics?

Posted By on Fri, Dec 22, 2006 at 8:49 AM

Paul Krugman says no.

As Brad DeLong, a Berkeley economist who served in the Clinton administration, recently wrote on his influential blog: “Rubin and us spearcarriers moved heaven and earth to restore fiscal balance to the American government in order to raise the rate of economic growth. But what we turned out to have done, in the end, was to enable George W. Bush’s right-wing class war: his push for greater after-tax income inequality.”

My only quibble with Mr. DeLong’s characterization is that this wasn’t just one man’s class war: the whole conservative movement shared Mr. Bush’s squanderlust, his urge to run off with the money so carefully saved under Mr. Rubin’s leadership.

 

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