Paul Krugman Has Emerged as Obama's Toughest Liberal Critic

President Barack Obama thinks he is right, but according to the Newsweek Cover story, the famous economist and Nobel Prize winner Paul Krugman thinks Obama is wrong.
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In the April 6 issue of Newsweek (on newsstands March 30), "Obama is Wrong," Newsweek's Evan Thomas profiles Paul Krugman, who, as the debate over the rescue of the financial system unfolds, has emerged as Obama's toughest liberal critic. Plus: Michael Hirsh on how Treasury Secretary Timothy Geithner appears to have settled into office; Dan Gross on financial linguistics; a profile of Peter Arnell; Newsweek's Business Roundtable; and the "diva-ization" of kids at a young age. (PRNewsFoto/Newsweek) NEW YORK, NY UNITED STATES 03/29/2009


29 Mar 2009 16:17 Africa/Lagos

NEWSWEEK Cover: Obama Is Wrong

Paul Krugman Has Emerged as Obama's Toughest Liberal Critic

What if Krugman's Criticism May be Right?

NEW YORK, March 29 /PRNewswire/ -- As the debate over the rescue of the financial system - which is crucial in stabilizing the economy and returning the country to prosperity - unfolds, Paul Krugman has emerged as President Barack Obama's toughest liberal critic, writes Newsweek Editor-at-Large Evan Thomas in his profile of Krugman in the current issue. Krugman, a columnist for The New York Times, a professor at Princeton and a Nobel Prize winner in economics, was a scourge of the Bush administration, but has been critical, if not hostile, to the Obama White House, skeptical of the bank bailout and pessimistic about the economy. As the debate continues, there are worries among the establishment that his "despair" over the administration's bailout plan might be right. "Krugman may be exaggerating the decay of the financial system or the devotion of Obama's team to preserving it. But what if he's right, or part right?," Thomas writes. "What if President Obama is squandering his only chance to step in and nationalize...the banks before they collapse altogether?," he writes in the April 6 Newsweek cover, "Obama Is Wrong" (on newsstands Monday, March 30).


(Photo: http://www.newscom.com/cgi-bin/prnh/20090329/91457 )


There is little doubt that Krugman has become the voice of the loyal opposition, taking on the president from the left. In his twice-a-week column and his blog, Conscience of a Liberal, Krugman criticizes the Obamaites for trying to prop up a flawed financial system and he portrays Treasury Secretary Tim Geithner and other top officials as tools of Wall Street. The day Geithner announced the details of the administration's bank-rescue plan, Krugman described his "despair" that Obama "has apparently settled on a financial plan that, in essence, assumes that banks are fundamentally sound and that bankers know what they're doing." The administration, naturally does not share Krugman's view, but the Obama White House is also careful not to provoke his wrath any more than necessary.


"Ideologically, Krugman is a European Social Democrat," Thomas writes. "In his published opinions, and perhaps his very being, Paul Krugman is anti- establishment." He hungers for what he calls "a new New Deal," and prides himself on his status as an outsider. Krugman generally applauds Obama's efforts to tax the rich in his budget and try for massive health-care reform. However, on the all-important questions of the financial system, he says he has not given up on the White House's seeing the merits of his argument - that the government must guarantee the liabilities of all the nation's banks and nationalize the big "zombie" banks - and do it fast. "The public wants to trust Obama," Krugman says. "This is still Bush's crisis. But if they wait, Obama will be blamed for a fair share of the problem." The question remains as to whether Krugman is right, which we won't know for a while to come.


(Read cover at www.Newsweek.com)


Cover: http://www.newsweek.com/id/191393


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NEWSWEEK Cover: Radical Islam Is A Fact Of Life. How To Live With It

In the March 9, 2009 issue of Newsweek (on newsstands Monday, March 2), "Radical Islam is A Fact of Life. How To Live With it" Fareed Zakaria makes the case for why the West needs to adopt a more sophisticated strategy toward Radical Islam. Plus: Israel's Benjamin Netanyahu and Avigdor Lieberman discuss the country's future in their first foreign media interview since winning in the recent election. Lastly: A review of the latest comic book inspired movie, "Watchmen." (PRNewsFoto/NEWSWEEK) NEW YORK, NY UNITED STATES 03/01/2009

1 Mar 2009 17:18 Africa/Lagos

NEWSWEEK Cover: Radical Islam Is A Fact Of Life. How To Live With It

Fareed Zakaria Writes, "It is crucial that we adopt a more sophisticated strategy toward radical Islam"

Not All Islamic Fundamentalists Support Jihad or are Potential Terrorists

NEW YORK, March 1 /PRNewswire/ -- In the March 9 Newsweek cover, "Radical Islam Is a Fact of Life. How to Live With It" (on newsstands Monday, March 2), Newsweek International Editor Fareed Zakaria argues that radical Islam is a fact of life, which we must learn to deal with. He emphatically does not say that we should accept the medieval values of the Islamists, or that we should not continue trying to destroy Al Qaeda. But to prevail in a generational cultural struggle, the West must learn to distinguish between those who have nihilistic philosophies and expansionist aims and those looking to apply their values at home.


(Photo: http://www.newscom.com/cgi-bin/prnh/20090301/NYSU003 )


Reports from Nigeria to Bosnia to Indonesia show that Islamic fundamentalists are finding support within their communities for their agenda, which usually involves the introduction of some form of Sharia-Islamic law--reflecting a puritanical interpretation of Islam. No music, no liquor, no smoking, no female emancipation. "The groups that advocate these policies are ugly, reactionary forces that will stunt their countries and bring dishonor to their religion. But not all these Islamists advocate global jihad, host terrorists or launch operations against the outside world--in fact, most do not," Zakaria writes. "Consider, for example, the most difficult example, the Taliban. The Taliban have done all kinds of terrible things in Afghanistan. But so far, no Afghan Taliban has participated at any significant level in a global terrorist attack over the past 10 years--including 9/11." Zakaria also points out that while some elements of the Taliban are closely associated with Al Qaeda, "the Taliban is large, and many factions have little connection to Osama bin Laden. Most Taliban want Islamic rule locally, not violent jihad globally," he writes.


This is why "it is crucial that we adopt a more sophisticated strategy toward radical Islam," Zakaria writes. "This should come naturally to President Obama, who spoke often on the campaign trail of the need for just such a differentiated approach toward Muslim countries." The Washington Institute, a think tank often associated with conservatives, also agrees with this view. Its report due to be released this week recommends that the United States use more "nuanced, noncombative rhetoric" that avoids sweeping declarations like "war on terror," "global insurgency," even "the Muslim world."


"Anything that emphasizes the variety of groups, movements and motives within that world strengthens the case that this is not a battle between Islam and the West," Zakaria writes. "Bin Laden constantly argues that all these different groups are part of the same global movement. We should not play into his hands, and emphasize instead that many of these forces are local, have specific grievances and don't have much in common. That does not mean we should accept the burning of girls' schools, or the stoning of criminals. Recognizing the reality of radical Islam is entirely different from accepting its ideas. We should mount a spirited defense of our views and values. We should pursue aggressively policies that will make these values succeed. Such efforts are often difficult and take time--rebuilding state structures, providing secular education, reducing corruption--but we should help societies making these efforts. The mere fact that we are working in these countries on these issues--and not simply bombing, killing and capturing--might change the atmosphere surrounding the U.S. involvement in this struggle."


(Read cover article at www.Newsweek.com)


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