Posted on 01/18/2013 4:51:24 AM PST by Sir Napsalot
It’s hard to turn on your TV or read an editorial page these days without encountering someone declaring, with an air of great seriousness, that excessive spending and the resulting budget deficit is our biggest problem. Such declarations are rarely accompanied by any argument about why we should believe this; it’s supposed to be part of what everyone knows.
This is, however, a case in which what everyone knows just ain’t so. The budget deficit isn’t our biggest problem, by a long shot. Furthermore, it’s a problem that is already, to a large degree, solved. The medium-term budget outlook isn’t great, but it’s not terrible either — and the long-term outlook gets much more attention than it should. ......
(Excerpt) Read more at nytimes.com ...
Krugman worships at the altar of John Maynard Keynes. He is a vociferous Keynesian. He wrote the following:
“The boom, not the slump, is the right time for austerity at the Treasury.” So declared John Maynard Keynes in 1937, even as F.D.R. was about to prove him right by trying to balance the budget too soon, sending the United States economy — which had been steadily recovering up to that point — into a severe recession. Slashing government spending in a depressed economy depresses the economy further; austerity should wait until a strong recovery is well under way.
He really believes this crap. And he is really really WRONG. The reason WHY economies have inflation, bubbles and busts and other failings is BECAUSE of government interference. Crony capitalism is the major contributor to a false and unrealistic economies that eventually and ALWAYS fail. And it is the fault of governments in the creation of crony capitalism.
There has been a very old war between the two schools: Hayak on the side of “free market” and Keynes on the side of “macroeconomics”.
As for me; I follow F.A. Hayak and believe that school of thought is the only workable school. Anything else will ALWAYS cause inflation, bubbles and busts.
I like your analogy.
In the end, we’ll all be dead, so why worry now!!??!!!!!
“Okay is this guy a comedian?
Is he serious about this?”
We have a new salesman in the company. Twenty something with a degree from Nebraska. He loves to show how smart people are based on where they went to school and what degrees they have.
He always points to Krugman and the nobel (no, bull)piece prize.
(yes, I misspelled peace for you spell check nazi’s)
We have pointed out the idiocy of the democRATS to the kid, but he is in full kool-aid drink/guzzle mode. There is no reasoning with idiots.
And this reader's quote as NYT Top Pick -
"Mary CO"
No one's right's should infringe on another's safety. It is not logical nor conscionable, nor could the framers have intended the conditions we face today.
The second amendment should be amended.
Jan. 16, 2013 at 3:56 p.m. Recommended: 197
Note: emphasis mine
Well, that is fantastic. I think we will go out and borrow our way out of debt today. We need several thousand dollars to buy a new car and pickup and everything will be fine.
This joker must be one of the people who hang out under 0 bummer’s desk and wear out heavy duty knee pads on a weekly basis. Krugman, wipe the droll off your chin.
Well, of course. Deficits are never a problem when democrats are president, only when republicans are president.
“As for me; I follow F.A. Hayak and believe that school of thought is the only workable school. Anything else will ALWAYS cause inflation, bubbles and busts.”
I completely agree. See http://www.youtube.com/watch?v=GTQnarzmTOc&feature=youtube_gdata_player
Very well done.
No only is the deficit problem solved but we also had record wheat harvests last year.
Krugman won a school spelling bee or something and that’s supposed to make him really smart. I would pay more attention to him if he wasn’t such a Democrat shill. Obama may prove the old saying, “It’s better to be lucky than good.” Even with all of his bungling in the energy business, our domestic oil production is going up. This will help our country in spite of Obama and not because of him. Lower fuel prices allow Americans to buy more stuff and buying stuff heats up the economy. Just like Clinton took credit for Reagan and Bush’s economy, Obama will take credit for an energy boom that he fought against.
Read this Paul...http://www.gop.com/news/research/obama-by-the-numbers-7/
I guess it would not be accurate to call Krugman a “bald-faced” liar since he sports the latest Che/Fidel facial hair augmented with the old-man close cropped disheveled gray hair look that he probably finds very attractive when he performs his morning toilet.
But such a load of leftist balderdash I have not read or heard since the last time Jay Carney opened his mouth.
I hope everyone understands now that we are really at war with these scoundrels and that there is no room for compromise. We must rise up and throw out Mitch and John. We must replace them with Lee Atwater types or we will never find that conservative soul the republican party so desparately needs.
Here is some ammo they can use to disprove one Obama lie. From his own White House staff...http://news.investors.com/ibd-editorials-perspective/113012-635352-bush-tax-cuts-did-not-cause-deficits.htm?p=full
Did prescription drugs for seniors add to the deficit? Probably, but Obama bragged about expanding the program...http://www.hhs.gov/news/press/2012pres/09/20120921a.html
Oh please. If there was any "surplus" left after Clinton's terms in office, it was because the GOP Congress wouldn't let him spend as much money as he wanted. A budget "surplus" lasts only as long as the next fiscal cycle--it's not a tangible "savings" as long as there are outstanding liabilities; i.e, the public debt.
I really wish we’d let ‘em ‘run loose’ and let it burn, just to finally lay to rest this B.S.
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