Posts tagged as “Paul Krugman”

Despite a low approval rating, Rolling Stone magazine has put President Barack Obama on its cover as one of the ““one of the most consequential and, yes, successful presidents in American history.”
The declaration, made by Nobel Prize-winning economist Paul Krugman, is found in a story written by Krugman, who defends the commander-in-chief to prove why he’s been successful during his final two years in office.
“Obama faces trash talk left, right and center – literally – and doesn’t deserve it. Despite bitter opposition, despite having come close to self-inflicted disaster, Obama has emerged as one of the most consequential and, yes, successful presidents in American history,” Krugman wrote. “His health reform is imperfect but still a huge step forward – and it’s working better than anyone expected. Financial reform fell far short of what should have happened, but it’s much more effective than you’d think. Economic management has been half-crippled by Republican obstruction, but has nonetheless been much better than in other advanced countries. And environmental policy is starting to look like it could be a major legacy.
As successful as he claims Obama has been, Krugman notes the criticism the President has received from various critics.
“First, however, let’s take a moment to talk about the current wave of Obama-bashing. All Obama-bashing can be divided into three types. One, a constant of his time in office, is the onslaught from the right, which has never stopped portraying him as an Islamic atheist Marxist Kenyan. Nothing has changed on that front, and nothing will,” he said Krugman. “There’s a different story on the left, where you now find a significant number of critics decrying Obama as, to quote Cornel West, someone who ”posed as a progressive and turned out to be counterfeit.” They’re outraged that Wall Street hasn’t been punished, that income inequality remains so high, that ”neoliberal” economic policies are still in place. All of this seems to rest on the belief that if only Obama had put his eloquence behind a radical economic agenda, he could somehow have gotten that agenda past all the political barriers that have con- strained even his much more modest efforts. It’s hard to take such claims seriously.
“Finally, there’s the constant belittling of Obama from mainstream pundits and talking heads,” he continued. “Turn on cable news (although I wouldn’t advise it) and you’ll hear endless talk about a rudderless, stalled administration, maybe even about a failed presidency. Such talk is often buttressed by polls showing that Obama does, indeed, have an approval rating that is very low by historical standards.
“But this bashing is misguided even in its own terms – and in any case, it’s focused on the wrong thing.”