The Austerity Myth: Cuts in Government Spending are Slowing Down the Economy
You may have heard this claim from various liberals and fans of Keynesian stimulus – the reason our economy continues to slow is cuts have been made in the federal budget, and that slowdown in spending is causing a drag on employment and other factors. John Merline at Investors.com explains how that couldn’t be true: [...]
I Guess I’m a Little Disappointed That He Subscribed in the First Place
Donald Rumsfeld tweeted this today: If you didn’t get a chance to read Krugman’s blog post from the Fish Wrap Times yesterday, you didn’t miss much. If you want to read it to see what a low-life this guy is, here you go: The Years of Shame
If Social Security Isn’t a Ponzi Scheme, What is It?
The claim that Social Security is a Ponzi scheme has been around for a long time. For decades, economists of all stripes have recognized that the Ponzi-like aspects of the system would eventually lead to trouble. Sooner or later (and later is almost upon us, my friends) there would not be enough young workers paying [...]
“The greatest increase in poverty and hardship produced by any law in modern U.S. history.”
Read this – it’s a good example of the hyperbole that is spewing forth about the debt ceiling fiasco. This is from Peter Suderman of Reason.com: For the vigilant apocalypse watchers, Robert Greenstein, a budget analyst at the liberal Center on Budget and Policy Priorities, is warning that John Boehner’s proposed debt plan “could well produce the greatest [...]
I Would Normally Wail on Krugman for His Latest NYT Whinefest…
But Smitty over at The Other McCain has already done it for me. Sitting There Feeling Useless sits Paul Krugman, unable to grasp that the American people aren’t buying his swill. ” (Krugman’s quote) The worst thing you can do in these circumstances is slash government spending, since that will depress the economy even further.” Can you not grasp [...]
More Hopenchange: Housing Prices Continue 57-Month Decline
Stacy McCain asks “is this the hope, or the change?” He’s referring to the news from the Wall Street Journal that housing prices continued their 57-month decline in the first quarter of this year. Home values posted the largest decline in the first quarter since late 2008, prompting many economists to push back their estimates [...]
Paul Ryan Unveils GOP’s Path to Prosperity – Expect Liberal Caterwauling to Begin Shortly
70,000 children will die! Old people won’t be able to get their prescription medications! Blood will run in the streets! Dogs and cats, living together – it will be chaos (wait, that’s Ghostbusters, not the budget)! But, you can expect hyperbole along these lines when Democrats start screaming about the “draconian” cuts proposed in Paul [...]
Krugman on Wisconsin: Wrong, Wrong, Wrong.
I don’t know why I do this to myself, but while skimming an article in the New York Times, I couldn’t resist clicking on a link to Paul Krugman’s latest column. After wrapping a couple of turns of duct tape around my noggin, I clicked away. Opining on the budget showdown in Wisconsin, Krugman tries [...]
Let Me Guess: He Consulted with Krugman
Image via Wikipedia The Wall Street Journal reports that Barack Obama (*DfOaLG), in his State of the Union speech, will call for…wait for it…increased spending. He must have been reading Paul Krugman’s weekly praises of Keynesian stimulus in the New York Times – Mr. Obama will argue that the U.S., even while trying to reduce [...]
The Dismal Science and Me: 4 – Public Works Mean Taxes
Last time we reviewed Hazlitt’s discourse on the “blessings” of destruction, and used as a modern-day (and all too recent) example the “Cash for Clunkers” program. Used cars were traded in for taxpayer-subsidized rebates on the purchase of new cars. The ostensible rationale given for the program was “to stimulate” the automobile industry in America [...]
Krugman’s World: Anyway, Federal Workers Aren’t Overpaid, or Something
P Krug writes in his latest NYT column about how President Obama (DfOaLG*) is betraying his supporters with his “appeasement” of the GOP by freezing federal worker pay. The column is typical Krugman – so, whatever. What kills me is how the Krug has the cojones to say: The truth is that America’s long-run deficit [...]
Doomsaying Liberal Columnists Miss the Point on Dead ARC Tunnel Project
Last week, Governor Chris Christie of New Jersey made a tough decision. Faced with the near-certainty of 20% to 50% cost overruns, and with no source of funds to cover them, he canceled the $9 billion ARC “tunnel to Macy’s basement” that would have doubled rail capacity between New Jersey and Manhattan. His rationale was [...]
Krugman again? Pass me the duct tape, so my head doesn’t explode!
P Krug is at it again – lamenting in his latest New York Times editorial how “with Republican obstruction, the best we can hope for (with the economy) is palliative (my emphasis) measures…like the infrastructure program (the $50 billion in roads leading to nowhere) introduced by Obama this weekend.” It’s hard to overstate how destructive [...]
Krugman’s tired refrain: We need more spending, or a war, or something
Paul Krugman dons his pointy hat and shouts from the corner: “we need more stimulus spending -lots more- to pull out of this economic disaster.” Otherwise, it’ll be 1938 all over again, and, well, we don’t have WWIII to count on to pull us out of our slump, blah, blah, blah. Yawn. Please stop. P [...]
