The problem isn't that people don't understand how good things are. It's that they know, from personal experience, that things really aren't that good.
Paul KrugmanThe real danger with debt is what happens if lots of people decide, or are forced, to pay it off at the same time.
Paul KrugmanRaising the minimum wage and lowering the barriers to union organization would carry a trade-off - higher unemployment. A better idea is to have the government subsidize low-wage employment. The earned-income tax credit for low-income workers - which has been the object of proposed cuts by both President Clinton and congressional Republicans - has been a positive step in this direction.
Paul Krugman