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Lifestyles
Krugman Defines 'American Exceptionalism' as 'Growing Welfare State' Print E-mail
by Tom McGregor    Tue, Dec 10, 2013, 12:26 AM

New York Times columnist Paul Krugman, who somehow won the Nobel Prize for Economic, is now espousing a theory, which he contends that boosting government welfare spending can lead to high GDP growth rates.

The Japan Times reports that, "So what do Summers and Krugman advocate for the secular malaise? Why, a cyclical solution: government spending on infrastructure. They want the kinds of things Keynesians typically promote to stabilize the economy during a recession to become a permanent part of the fiscal architecture."

Paul Krugman, who has earned recognition for advising the Japanese government on economic policy, believes ObamaCare can rescue the US economy too.

Mr. Krugman blasts the argument that, "American exceptionalism is alive and well and waiting to be liberated from the growing welfare state."

Meanwhile, Krugman also insists that raising taxes can jumpstart the economy as well.

To read the entire article from the Japan Times, link here:

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