Krugman On The New Deal

November 10, 2008

The op-ed piece is worth reading in its own right (it’s about the possibility of Obama using FDR’s New Deal as a model), but this paragraph jumped out at me:

“About the New Deal’s long-run achievements: the institutions F.D.R. built have proved both durable and essential. Indeed, those institutions remain the bedrock of our nation’s economic stability. Imagine how much worse the financial crisis would be if the New Deal hadn’t insured most bank deposits. Imagine how insecure older Americans would feel right now if Republicans had managed to dismantle Social Security.”

Right there, I think, in one paragraph, is about the strongest refutation of Republicanism I’ve seen in a while.

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