Paul Krugman, a Princeton University professor of economics and foreign affairs and a regular columnist for The New York Times, spoke Monday evening to a near-capacity crowd at the Wisconsin Union Theater as part of the Spotlight Series.
Outlining the argument of his best-selling new book, \The Great Unraveling,"" Krugman used his 45-minute lecture to criticize the Bush administration's domestic and foreign policies.
Krugman began by attacking the administration's 2003 federal budget, stating Bush pushed through massive tax cuts despite increasing annual deficits.
""It's wildly irresponsible, something very difficult to find a counterpart for in American history,"" he said. ""We have a really alarming budget projection. To pass a tax cut in the face of that is unprecedented.""
Krugman further suggested Bush's foreign policy, particularly regarding the war in Iraq, has reflected similar irresponsibility.
""Plan A was we'd win the war quickly, install our favorite exiles and march out to cheering crowds,"" he said. ""There was no Plan B.""
Krugman said he believes the Bush administration pursues irresponsible policies because its members overlook the nation's interests in favor of their personal financial interests.
Later in his speech, Krugman bemoaned the current role of the news media in American politics. He said he believes the Bush administration intimidates journalists into not questioning its policies by accusing them of liberal bias and treason.
Krugman half-jokingly claimed he feels safe challenging the administration in his columns because he can retreat to his academic career.
""I can always go back to just being a college professor, in England, if necessary,"" he said.
Krugman ended his lecture on a more hopeful note, asserting the strength of the American economy can pull the nation through prolonged financial strain.
""The U.S. has the resources,"" he said. ""The budget deficit is not large compared to the overall national economy.""
Tim Dalbridge, a UW-Madison senior, said he found Krugman's argument persuasive.
""I think he made some good points,"" he said. ""I don't know if the administration is as bad as he claimed, but he defended his position well.""
Tom Rausch, a UW-Madison senior, said he agreed, but thought Krugman failed to reach his target audience.
""I think he was preaching to the choir,"" he said. ""He was in a room full of liberal people who share his perspective. He needs to get his message across to people on the other side.\
