In case you’ve been hiding under a rock, you’ve probably seen Newsweek’s cover story “Obama is Wrong” featuring Nobel Prize winning economist and NYT columnist Paul Krugman.
While its worth a quick read, the article itself does little to explain the long held policy disputes between Obama and Krugman. In short, Krugman has been very skeptical of the Obama administration insistence in propping up our current economic system, which Krugman, believes is fundamentally flawed. How flawed? Krugman has begun calling these ideas “Zombie ideas” because of their role in keeping dead banks alive.
But this isn’t the first, or nastiest debate the President has had with Krugman. During the primary, Krugman and Obama traded several blows while debating the necessity of a mandate in achieving universal health care. Obama opposed it and Krugman, along with Clinton, Edwards, and most of the progressive community supported it.
It got so nasty, that the Obama campaign even sent out an opposition hit piece on Krugman. Of course, once he was elected Obama changed his mind and sided with Krugman. Oops
You can read about the debate HERE