Monday Morning Sarcasm

In a stunning reversal, Paul Krugman admitted today that Big Government, far from having helped us "avert the worst", as most people assume, actually made the economic situation worse. Ronald Reagan, it seems, was right when he quipped that "government was always and everywhere a problem".

The Nobel Prize laureate is now convinced that, had the federal government not enacted the stimulus package, saved the banking system and opened the monetary spigots, in other words, if the government had done what the great Hoover administration did in 1929-1930 (which is...nothing), things would be infinitely better by now.