There’s been a lot of talk about the Newsweek article on economist Paul Krugman. But this part seems particularly relevant:
With dry humor, he once told a friend the story of attending an economic summit in Little Rock after Bill Clinton was elected president in 1992. As the friend recounted the story to NEWSWEEK, “Clinton asked Paul, ‘Can we have a balanced budget and health-care reform?’–essentially, can we have it all? And Paul said, ‘No, you have to be disciplined. You have to make choices.’ Then Paul says to me (deadpan), ‘That was the wrong answer.’ Then Clinton turns to Laura Tyson and asks the same questions, and she says, ‘Yes, it’s all possible, you have your cake and eat it too.’ And then [Paul] says, ‘That was the right answer’.” (Tyson became chairman of Clinton’s Council of Economic Advisers; she did not respond to requests to comment.) Krugman confirmed the story to NEWSWEEK WITH a smile.
Krugman, of course, was right: Clinton balanced the budget but never did anything about healthcare. Tyson was wrong.