I recently finished to read it and I consider it as one of the better books I ever read. Krugman's incredibly perceptive analysis of the American political history give us a better understanding of the real nature of conservative movement and his disastrous consequences on American society. Sure, it's a very partisan book, and I have difficulties to think that some republicans will vote FB. Anyways, I think it's undeniable that this book has to exist, as The Conscience of a conservative had to do in the 60's.
BTW : I benefit the occasion to give a precision about the quote I have on my signature. I read Krugman's book french traduction, L'Amérique que nous voulons. If I managed to find the english title, the text I wrote on my signature has many chances not to be the actual text of the book, since it is the retraduction of the french traduction. I apologize to Krugman for this wrongdoing.
I can't give a reasonable verdict without reading the book. Once I have read it cover to cover then I'll give an analysis of whether or not this is Freedom Book or Horrible Book.