Every Monday brings another gloomy, doomy dispatch from the pessimistic prince of Sunday punditry, Paul Krugman. The Nobel-prize-winning Princeton economics professor and New York Times columnist is on the record--and the front of last week's Newsweek--expressing deep skepticism about the bank bailout and keeping grown-ups across America awake at night with a frightening fable, The (Too) Little-Stimulus-That-Couldn't.

But wait! This Monday, Krugman was feeling cautiously optimistic about the President's proposed health care overhaul. Is...