Krugman v. Brooks

Both David Brooks and Paul Krugman are smarter than I am, something that the New York Times must recognize since they both get paid to express their thoughts in that paper and so far, at least, no one from the Times (or anyone else) has offered to pay me for my opinion. In today's paper Mr. Brooks takes a few shots at economists like Krugman (though he doesn't mention him by name). He calls them Demand Siders, and complains that stimulus programs -- he uses the term "debt-fueled government spending" -- destroy consumer and investor confidence. On his blog today, Krugman addresses Brooks and dismissively rejects Brooks' suggestion that it might now be time to focus on reducing the deficit. As he put it, "I’ve looked hard at the arguments the Pain Caucus is making, the evidence that supposedly supports their case — and there’s no there there."

I barely made it through Economics 101 in college, and I have no idea who is right. But I find it a little unsettling that these two smart guys don't agree on what our next step toward economic recovery should be. I'd like to think that there is just one right answer -- not a Democrat answer or a Republican answer -- but sometimes I suspect that trying to control the economy is a little like trying to ski jump while blindfolded.