Regarding Paul Krugman's October 12, 2009 column:
Professor Krugman must address the fact that the US implicit fiscal policy remains High Supply Side-ism. All fiscal structures are still rigged to channel wealth to where G~d and providence deign it to go -- into the hands of the top one percent. Nothing has changed in this equation, and yet it can be shown empirically that if you give the top one percent a $1.3 trillion tax break sop, they create market conditions that destroy somewhere from $4 to $10 trillion. This we now know, but if Congress were presented with the same plan tomorrow, I'd wager the same would do the same. No amount of debate around the margins on the impact of monetary policy will have any impact as long as the fiscal policy is -- implicitly, never explicitly -- set in this way.