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August 28, 2009

Paul Krugman is a shameless scumbag

I realize there are plenty of shameless lying shills tossing whatever lingers of their reputations out the window to support the Obama, but Paul Krugman astounds. He has an article today explaining that while $9 Trillion in debt may sound like a lot, it's not a big deal and we'll all be fine. No reason to panic or stop shoveling money out of the Treasury on socialized medicine and other gargantuan spending debacles. Just follow the savior and we will reach the progressive promised land.

So new budget projections show a cumulative deficit of $9 trillion over the next decade. According to many commentators, thatís a terrifying number, requiring drastic action ó in particular, of course, canceling efforts to boost the economy and calling off health care reform.

The truth is more complicated and less frightening. Right now deficits are actually helping the economy. In fact, deficits here and in other major economies saved the world from a much deeper slump. The longer-term outlook is worrying, but itís not catastrophic.

Well a principled brainiac like Krugman has obviously believed in the healing power of deficits for a long time right? Hmmm let's go back to those thrilling days of yesteryear when the evil chimp W ruled and every dime he wasted was a tragedy.

TONY JONES: Well, the US is not just labouring under a record trade
deficit, there are warnings tonight that its budget deficit could
precipitate a Latin American style financial crisis.

Influential
economist Paul Krugman says the US will face a severe downturn before
the end of the decade unless the $500 billion fiscal debt is rectified....

PROFESSOR PAUL KRUGMAN, PRINCETON ECONOMIST: Well, basically we have a
world-class budget deficit not just as in absolute terms of course -
it's the biggest budget deficit in the history of the world - but it's
a budget deficit that as a share of GDP is right up there.

It's comparable to the worst we've ever seen in this country.....

So, if you take a look, the only thing that sustains the US right now
is the fact that people say, "Well America's a mature, advanced country
and mature, advanced countries always, you know, get their financial
house in order," but there's not a hint that that's on the political
horizon, so I think we're looking for a collapse of confidence some
time in the not-too-distant future.

What a fucking douche. I fail to comprehend how this jackass continues to be looked on as smart. Is he not aware that what he says can and will be used against him in the court of common sense. The left's only principle is that they are right.


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posted by Uncle Jimbo at 11:32 AM

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