Paul Krugman on The Stimulus Trap

CommonDreams.org cross-posted Paul Krugman's excellent commentary on what President Obama should do now that the first round of stimulus has proved insufficient to revive the economy.What Mr. Obama needs to do is level with the American people.

He needs to admit that he may not have done enough on the first try. He needs to remind the country that he’s trying to steer the country through a severe economic storm, and that some course adjustments — including, quite possibly, another round of stimulus — may be necessary.

What he needs, in short, is to do for economic policy what he’s already done for race relations and foreign policy — talk to Americans like adults.