Déclaration de Paul Krugman à propos des déficits de George W. Bush:


« Well, basically we have a world-class budget deficit not just as in absolute terms of course – it’s the biggest budget deficit in the history of the world – but it’s a budget deficit that as a share of GDP is right up there. It’s comparable to the worst we’ve ever seen in this country. It’s biggest than Argentina in 2001. Which is not cyclical, there’s only a little bit that’s because the economy is depressed. Mostly it’s because, fundamentally, the Government isn’t taking in enough money to pay for the programs and we have no strategy of dealing with it. So, if you take a look, the only thing that sustains the US right now is the fact that people say, ‘Well America’s a mature, advanced country and mature, advanced countries always, you know, get their financial house in order,’ but there’s not a hint that that’s on the political horizon, so I think we’re looking for a collapse of confidence some time in the not-too-distant future. »

Déclaration de Paul Krugman à propos des déficits de Barack Obama:

« Many economists, myself included, regard this turn to austerity as a huge mistake. It raises memories of 1937, when F.D.R.’s premature attempt to balance the budget helped plunge a recovering economy back into severe recession. And here in Germany, a few scholars see parallels to the policies of Heinrich Brüning, the chancellor from 1930 to 1932, whose devotion to financial orthodoxy ended up sealing the doom of the Weimar Republic. But despite these warnings, the deficit hawks are prevailing in most places — and nowhere more than here, where the government has pledged 80 billion euros, almost $100 billion, in tax increases and spending cuts even though the economy continues to operate far below capacity. »


Bref, ce qui était catastrophique en 2004 pour Krugman est devenu parfaitement acceptable en 2010. Les voies du keynésianisme, tout comme celles de la religion, sont impénétrables…

Barack "The Socialist" Obama

Et pour les illettrés économiques qui imputent la récession de 1937 aux politiques de retour à l’équilibre budgétaire, voici un peu de lecture