President Reagan's policies embraced anti-austerity Keynesian economics to a greater degree than President Obama has, and that's why Obama is in trouble, argues Nobel Prize-winning economist Paul Krugman.
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Appearing Sunday on ABC's "This Week," the New York Times columnist and Princeton professor argued that Reagan was able to reduce unemployment after taking office in part because he grew government jobs -- unlike Obama, who has significantly cut them.
"If you actually look at the actual track record of government spending, government employment, Reagan is the Keynesian and Obama -- mostly because of political constraints, although a little bit of lack of conviction on the part of his own people -- has been the anti-Keynesian," Krugman said. "He's been the one who's been doing what Republicans say is the right answer."