Krugman refutes the right wing mantra that goes “Obama is a big spender”.
One of the things everyone knows right now is that Obama has presided over a huge increase in government spending. But like so many of the things everyone knows, it isn’t true.
Spending as a percentage of GDP is around 19 percent. It's midrange. Spending peaked in 1987, during the Reagan presidency, at around 21.5 percent.
Now can we pass more stimulus and create more damn jobs?! Of course, before that happens, Congress needs to unf-ck itself and realize that deficit reduction is really stupid (at this point).