Paul Krugman, the liberal pro-spending economist, wrote an op-ed article today for the New York Times entitled “Redo that Voodoo.” Krugman argues that across-the-board tax cuts do not work and praised President Clinton’s tax increases that he initiated early in his first term. Krugman thinks that Obama is on the right course, but not doing enough spending. In order to debunk what he considers to be the myth of President Reagan’s economic success through across-the-board tax cuts, Krugman produced the chart below and accompanying explanation in his blog earlier this week, which purport to show that the Carter years as...