Don't be fooled by hawks who warn of a "long-term deficit crisis," says the celebrated economist—expanding entitlement programs will save money and free up jobs for those who really need them: young people.
James K. Galbraith, author of The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too, teaches at the LBJ School of Public Affairs, The University of Texas at Austin. He is formerly Executive Director of the Joint Economic Committee of the Congress.
Why not? Because it fails the president's own test: It won't get credit flowing again.