In an opinion piece in the WaPo today, Obama argues for the stimulus package. He’s my favorite excerpt:
In recent days, there have been misguided criticisms of this plan that echo the failed theories that helped lead us into this crisis — the notion that tax cuts alone will solve all our problems; that we can meet our enormous tests with half-steps and piecemeal measures; that we can ignore fundamental challenges such as energy independence and the high cost of health care and still expect our economy and our country to thrive.
It sounds like he is at least partly making the same case that Krugman has been making for many months. In summary, if the economic policies of the past 8 years (e.g., tax cuts and deregulation are the solution to all problems) got us into this mess, then why do we expect them to get us out of it?