Newsweek’s Krugman Cover Story: Obama’s Loyal Opposition

“Bout fuckin’ time.”

F.F. 3/28/09


Huffington Post   |  Nick Sabloff   |   March 28, 2009 12:15 PM


New York Times columnist Paul Krugman has been one of most vocal critics of the Obama administration’s bank bailout plan. As the Financial Times noted Friday, Krugman is one of the “many prominent left-leaning economists” who is leading what the article referred to as “the liberal backlash” against Obama. For example, in a widely-read post on his blog “Conscience of a Liberal” last Saturday, Krugman criticized Geithner’s plan for the banks, declaring that “the zombie ideas have won.” His critique quickly echoed around the blogosphere and beyond.

This week’s issue of Newsweek highlights, and perhaps helps solidify, Krugman’s status as arguably the most prominent, influential and prescient critic of the administration on the left by featuring him on the magazine’s coveralongside the headline “OBAMA IS WRONG: The Loyal Opposition of Paul Krugman.” (SCROLL DOWN FOR IMAGE OF COVER)

As Newsweek editor Jon Meacham writes in his letter to the magazine’s readers about the Krugman article:

Every once a while, … a critic emerges who is more than a chatterer–a critic with credibility whose views seem more than a little plausible and who manages to rankle those in power in more than passing ways. As the debate over the rescue of the financial system–the crucial step toward stabilizing the economy and returning the country to prosperity–unfolds, the man on our cover this week, Paul Krugman of The New York Times, has emerged as the kind of critic who, as Evan Thomas writes, appears disturbingly close to the mark when he expresses his ‘despair’ over the administration’s bailout plan. […]
There is little doubt that Krugman–Nobel laureate and Princeton professor–has be come the voice of the loyal opposition. What is striking about this development is that Obama’s most thoughtful critic is taking on the president from the left at a time when, as Jonathan Alter notes, so many others are reflexively arguing that the administration is trying too much too soon.


Read the full Newsweek article by Evan Thomas:


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