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Krugman: Raising Taxes Worsened Depression But OK Now

by Roland, the Gunslinger on Mon 17 Nov 2008 11:16 PM EST | Permanent Link | Cosmos

It appears being bestowed a Nobel Prize for economics doesn't improve one's economic acumen, for in the course of roughly 60 seconds Sunday, Paul Krugman said Franklin D. Roosevelt's decision to raise taxes in 1937 deepened the Depression, but it's okay to raise taxes 70-plus years later when the economy is in trouble.

Interesting contradiction, wouldn't you agree?

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