BUSINESS

The Long-Run Cop-Out

Paul Krugman, professor of international trade and economics at Princeton University and Nobel Prize-winning economist, speak
Paul Krugman, professor of international trade and economics at Princeton University and Nobel Prize-winning economist, speaks during an interview in Hong Kong, China, on Thursday, Nov. 14, 2013. The European Central Bank (ECB) can do substantially more in principle on the use of forward guidance and quantitative easing, Krugman said. Photographer: Jerome Favre/Bloomberg via Getty Images

On Monday, President Obama will call for a significant increase in spending, reversing the harsh cuts of the past few years. He won’t get all he’s asking for, but it’s a move in the right direction.

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