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Your Economic Health? It’s All Relative

Posted by Eduardo Porter, New York Times On October - 17 - 2012 News Politics
Eduardo Porter, New York Times
 With financial markets careening around the world, in January 2009 a newly inaugurated President Obama acknowledged he had to fix the problem pretty fast. "If I don't have this done in three years," he told NBC's Matt Lauer, "then there's gonna be a one-term proposition." Today, Republicans around the country are largely campaigning on the president's words. Conservative economists like Michael Bordo of Rutgers and John B. Taylor of Stanford have written columns for op-ed pages and blogs arguing that by the standard of previous...

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