Quote of the Day: Paul Krugman

Imagine that you’re driving along a stretch of highway where the legal speed limit is 55 miles an hour. Unfortunately, however, you’re caught in a traffic jam, making an average of just 15 miles an hour. And the guy next to you says, “I blame those bureaucrats at the highway authority — if only they would raise the speed limit to 65, we’d be going 10 miles an hour faster.”

Dumb, right? Well, so is the claim that unemployment benefits are causing today’s high unemployment.

— Paul Krugman (Princeton University)