Paul Krugman’s New York Times Op-Ed declares that just 8 months into 2009, he can confidently conclude that Big Government saved us from a hypothetical second Great Depression which “almost surely” would have happened were it not for the government debt and spending gusher.
But a philosophy student would point out that Krugman’s making the kind of argument that can’t possibly be disproved.
So it seems that we aren’t going to have a second Great Depression after all. What saved us? The answer, basically, is Big Government.
All in all, then, the government has played a crucial stabilizing role in this economic crisis. Ronald Reagan was wrong: sometimes the private sector is the problem, and government is the solution.
And aren’t you glad that right now the government is being run by people who don’t hate government?
We don’t know what the economic policies of a McCain-Palin administration would have been. We do know, however, what Republicans in opposition have been saying — and it boils down to demanding that the government stop standing in the way of a possible depression.
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