Krugman’s right. Again

All politics is local. So is the economy.

Understanding the attacks on public e...

You can barely open a newspaper or turn on a radio without hearing about states and local governments bankrupted by high-paid public employees, their pensions and their unions. How much of what you are hearing is really true, and how much is just one more Wall Street-funded campaign to turn people against each other and our government?

What do we see if we look around at the state of the economy? Stocks are soaring, corporate profits are way up, Wall Street gets trillions in bailouts and pays millions upon millions in bonuses. But regular people are having a hard time making ends meet and unemployment is still through the roof. Instead of programs to create jobs, stop foreclosures and rebuild our crumbling infrastructure the government passes more tax cuts for the rich. A few Wall Street and big-corporate types are getting very rich (richer) at the expense of the rest of us. If you are sitting pretty on Wall Street, you probably don’t want people thinking about these contrasts too much.