There is a lot of talk of getting Paul Krugman as Treasury Secretary. As Dean Baker points out – ain’t gonna happen.
If Krugman were Treasury Secretary we could envision a policy that was focused on creating jobs rather than reducing a deficit that exists almost entirely because of the downturn in the economy.We could also envision a policy that sought to tame the bloated financial sector with a speculation tax that would make much of the creative finance on Wall Street unprofitable. And, we would not have to worry that cutting Social Security and Medicare is the top priority for the Obama administration.
But, Krugman is not on the short list for Treasury Secretary. This list has the names of people who are much more acceptable to Wall Street who, by the way, have been wrong on almost everything important about the economy in the last decade. As…
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