Who's Fault the Financial Crisis?
Not Democrats. Not Republicans, either.
Drawing on a chart from Ryan Avent, Paul Krugman makes an absolutely correct point about the economic histoyr of the last four years:
As John Quiggin has been emphasizing, this across-the-board poor performance puts the lie to claims that it’s all because of that scary Obama person; in fact, the US has done better than the rest, although still quite badly — this is indeed a race between the halt and the lame.
Of course, the corollary is that this also puts the lie to claims that it's all because of that terrible Bush person. This was a global crisis. Attributing the last four years to either Republicans or Democrats is myopic American parochialism.
About the Author
Megan McArdle
Megan McArdle is a special correspondent for Newsweek and The Daily Beast covering business, economics, and public policy. A former senior editor at The Atlantic and writer for The Economist, Megan has a diverse work history including three small startups and a disaster recovery firm at Ground Zero.
More from The Daily Beast
Full Politics Coverage
L.A.'s Political Boys Club
For such a diverse city, the L.A. City Council is a depressing bastion of likeminded men.
Say What?
The Week in Wingnuts
Book of Wisdom
Rumsfeld, Advice Giver
Wrong Movie
Forget Bulworth. Try Rambo.
Eye in the Sky
Drawing the Lines on Drones
Debating Obama's Immigration Announcement
Did Obama lock down the independent vote with his move to reform immigration law? Newsweek and The Daily Beast’s Michael Tomasky and David Frum debate the liberal and conservative perspective on the latest immigration reform.
Comments