Krugman: It's Not Obama's Fault. It's Reagan's!

Why am I not surprised? When there is a Republican president and the economy goes sour, it's his fault. When there is a democrat, again it's a previous republican who's to blame.

Paul Krugman in his article, talks about his reasons for blaming Reagan. But also keep in mind that Krugman makes various allusions to different Democratic presidents and surprise - they're all positive. Here are a few examples:

Krugman mentions that federal debt as a percentage of G.D.P. fell steadily from the end of World War II until 1980. But he forgot to mention where debt started from in 1932. I wonder why?

He then adds:

Reagan-era legislative changes essentially ended New Deal restrictions on mortgage lending.

No mention of the larger deregulation done under Clinton (Glass-Stegall). He also says:

We weren’t always a nation of big debts and low savings: in the 1970s Americans saved almost 10 percent of their income, slightly more than in the 1960s.

Aaaah yes - those glorious 1970's! Most people forgot about how great the economy was then! One more:

...indebtedness began rising under Reagan; it fell again in the Clinton years, but resumed its rise under the Bush administration, leaving us ill prepared for the emergency now upon us.

You can read the article if you want. Just know where he stands politically before you do. Glad to see our Nobel prize winning economist is as post-partisan as our commander in chief.