I have a feeling that Krugman is talking about the severity of the economy for two reasons: (1) to show that the recession caused by Dubya turns out to be worse that expected, so it takes more time to recover, and (2) to make argument for more stimulus, which he would argue as the only way to get out of the recession.
Krugman works for the JournoList Cabal - while taking paychecks from the New York Times. So his hatred of conservatives is greater... Good call, paudio.
Yes, Krugman fears that the economic crisis may slow down America’s freight train to communism. “Now is not time to put the brakes on!” says Krugman. “Spend spend spend!”