'Yet many economists'
thinks Obama's stimulus package was "too cautious." I'd submit that the reason why Obama won't get a second stimulus package anytime soon is precisely because he wasn't cautious enough with the first package. He allowed Congressional Dems to write it -- and what we got was a standard liberal wish list, justified with dubious "job multiplier" arguments, that appeared as though they had something else in mind other than recovery from the current recession. ... Agree with Krugman, though, on the banking system. ...
Final note: Notice how they're no longer referring to "all" economists agreeing with them. It's now "many." It'll soon be downgraded to something else. ... Final note, Part II: Hub Blog steadfastly believes conservatives are off their rockers for trying to pin blame on Obama for recent market and economic declines, as if a recession begins and ends with an inauguration. But at some point he will be to blame. Krugman gives a rough late-summer blame timeline. Sounds about right to me.