SMRs and AMRs

Friday, April 18, 2008

Clinging to a Stereotype

By PAUL KRUGMAN
New York Times

Will Barack Obama’s now famous “bitter” quote turn out to have been a big deal politically? Frankly, I have no idea.

But here’s a different question: was Mr. Obama right?

Mr. Obama’s comments combined assertions about economics, sociology and voting behavior. In each case, his assertion was mostly if not entirely wrong.

Start with the economics. Mr. Obama: “You go into these small towns in Pennsylvania and, like a lot of small towns in the Midwest, the jobs have been gone now for 25 years and nothing’s replaced them. And they fell through the Clinton administration, and the Bush administration.”

There are, indeed, towns where the mill closed during the 1980s and nothing has replaced it. But the suggestion that the American heartland suffered equally during the Clinton and Bush years is deeply misleading.

In fact, the Clinton years were very good for working Americans in the Midwest, where real median household income soared before crashing after 2000. (You can see the numbers at my blog, krugman.blogs.nytimes.com.)

(Continued here.)

0 Comments:

Post a Comment

<< Home