Lights-Out Economics. “Tax breaks for the rich” caused the blackout! Of course!

NRO ^ | August 20, 2003, 9:00 a.m. | Donald Luskin

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Paul Krugman began his Tuesday column for the New York Times — inevitably, about the blackout — with one of the few truthful statements I can ever recall him uttering: "We still don't know what started the chain reaction on Thursday."

But after that admission, he proceeded to spend the next 649 words of his column telling us exactly what caused the blackout. Can you guess?

On Monday, Krugman explained it to the German magazine Der Spiegel:

According to American economics professor Paul Krugman, public services have been cut back in many areas to the benefit of "tax breaks for the rich." By now, government agencies spend virtually no money on repairing the dozens of dilapidated bridges in major American cities, not to mention streets filled with potholes. Washington is withdrawing from more and more public services. Bush' [sic] credo is that the market will take care of things.

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The blackout has ended, the lights are back on. But Krugman's still blinded, further proof he's a moron.