re:  "Austerians" holding sway over US economic policy

In predictable form, Paul Krugman is again advocating forcefully in favor of more government spending in the name of "creating jobs" and criticizing those who dare suggest that government spending not only isn't the answer to our economic woes, but that massive deficits and burgeoning national debt could actually inhibit prosperity.  This time, however, he adds a new twist:  he brands those calling for fiscal discipline as "priests of some ancient cult" and likens spending restraint to "human sacrifice".

It's an interesting comparison, since Dr. Krugman himself seeks to venerate an approach — increases in government spending and regulation of the economy coupled with tax increases on job producers — that would seem to be based solely on faith.  Such an approach was attempted by Herbert Hoover and Franklin Roosevelt in response to the Great Depression, Japan in the 1990s, and, most recently, Greece.  That's not a track record of success, would seem to give little reason to expect different results from the same approach by President Obama.

So Dr. Krugman is putting his faith in policies that have not worked in the past, but he's convinced they would be successful now... and he's accusing others of acting like a cult?

Sincerely,
Dave Smith
Houston, TX