And I'm amused by people who don't realize that Krugman is full of sh*t.
I know, right? The Nobel committee, MIT, Princeton. Suckers.
Yup. Given that a nutty liberal can basically get a Nobel prize just for showing up, it's not surprising really.
That said, no one on the left views him as some sort of magical economics wizard.
No one? He's pretty much the number one economist that liberal pundits trot out whenever they want to make their nutty ideas sound like they must be good because here's a Nobel prize winning economist saying they are. He's pretty much slobbered over by CNN and MSNBC. So maybe not "the left" as you see it, but certainly "the left" as it's presented to the public.
His blog, which I assume is what you're referring to since you have little chance of understanding any of his actual work, is more of an aggregation of Macro stuff on the web. Not sure why you brought him up. I assume he agrees with me, but that's because he can do math, not because we've secretly agreed to pretend a terrible policy that would cripple the economy is the way to go because...socialism.
I mentioned him because you've repeated nearly verbatim things I've heard him say. The idea that deficits don't matter, that inflating our way out of debt is a great idea, and that the stimulus failed because we didn't spend enough money are all positions he's advocated strongly. They are all, not coincidentally I'm sure, positions you've repeated on this forum. But hey! You're free to substitute his name with whatever nutty Neo-Keynesian Economist you like most if that makes you feel better.
I don't want to speak for your two term President here, but I think he's probably hinting at the idea that the broke people living in squalor have already sacrificed.
Not by any useful definition of the word "sacrifice", no, they haven't. Well, wait a minute! I suppose you could call the choice to give up freedom and opportunity for government entitlement a sacrifice, but that only makes sense if Obama were actually trying to help people to regain that freedom instead of working hard to take it away from yet more people.
So no, not really a sacrifice. Screwed over by their government and liberal economic polices? Sure. I'm not sure how more of the same helps though. Perhaps you'll enlighten us all though!