Why Geithner Had It All Wrong

Paul Krugman

Photo: NYtimes.com

For unrelated reasons (textbook!) I just reread Tim Geithner’s unfortunate August 2010 op-ed Welcome to the Recovery. Even at the time, it seemed tone-deaf to both the economic and the political realities; now, of course, it looks much worse.But Zachary Goldfarb’s deeply depressing piece on Geithner’s role in the internal economic debate offers some context: it looks as if “Welcome to the Recovery” was aimed not at the nation at large but at the pro-stimulus camp within the administration. No need to do more, Geithner was saying; we’ve got this under control.

Except, of course, they didn’t.

Read the rest of this article at the New York Times.

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