Think Big, Obama

Barack Obama needs to ignore those who are urging him to start small for either political or practical reasons and seize this chance to bring about the real social reforms voters have mandated, Paul Krugman writes in the New York Times. "This year’s presidential election was a clear referendum on political philosophies—and the progressive philosophy won," Krugman writes.

Expanding health care and unemployment benefits will be costly, especially in light of the financial crisis, Krugman acknowledges. But it is normal for governments to go into the red in depressed times—and a downturn is exactly when those in need should be helped. "Can Barack Obama really usher in a new era of progressive policies?" asks Krugman. "Yes, he can." (More President Obama stories.)