Paul Krugman: A Test for Democrats

It’s been a good Democrats, bad Democrats kind of week. The bill expanding children’s health insurance that just passed in the House makes you want to stand up and cheer. Reports that Senator Charles Schumer opposes plans to close the hedge fund tax loophole make you want to sit down and cry.

Let’s start with the good news: The House bill, which the Congressional Budget Office says would provide coverage to five million children who would otherwise be uninsured.