Obama: 'If Paul Krugman Has a Good Idea â€¦ Then We're Going to Do It'
Nobel Prize-winning economist Paul Krugman has been a frequent critic of President-elect Barack Obama. During the primary season, he faulted Obama for saying there is a Social Security "crisis," refusing to adopt a mandate in his health care proposals and not fighting enough on "partisan issues." In fact, today in his New York Times column, Krugman expresses skepticism at the effectiveness of Obama's stimulus plan, in particular his tax cuts for businesses:
But right now, we seem to be facing two major economic gaps: the gap between the economy's potential and its likely performance, and the gap between Mr. Obama's stern economic rhetoric and his somewhat disappointing economic plan.
Today in his press conference, a reporter questioned Obama about Krugman's criticisms. Obama said that he is open to the economist's ideas: "If Paul Krugman has a good idea, in terms of how to spend money efficiently and effectively to jump-start the economy, then we're going to do it."