Default Fellow

Paul Krugman


Professor of Economics and International Affairs, Princeton University; Columnist, New York Times; Author, The Great Unravelling: Losing Our Way in the New Century.

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Recent Commentary

A CRASH COURSE IN DUBYANOMICS: President Bush's Economic Policy

with Robert J. Barro, Paul Krugmanvia Uncommon Knowledge
Tuesday, January 6, 2004

The decades of the 1980s and 1990s seem to offer two different fiscal models for promoting economic growth. The 1980s under President Reagan suggest that cutting taxes is more important than balancing the budget. The 1990s under President Clinton suggest the importance of balancing the budget with moderate tax increases. Yet the results in each decade were similar: sustained economic growth. President George W. Bush has clearly been following the Reagan model in his first term: enacting large tax cuts even as the federal budget approaches record deficits. But has the Bush team taken the correct lessons from our recent economic past? Do the Bush policies promote long-term growth or jeopardize it?