It’s been a while since I’ve brought up this topic, but Paul Krugman is an idiot. I am constantly perplexed at how even a worthless rag like the New York Times could employ a man so disconnected from reality. Given the absolute insanity of his statement and the disastrous policies he preaches this man is more dangerous than Bin Laden and Julian Assange combined, primarily because he has been given a pulpit to weekly spew his drivel out to the nation. My only consolation is that almost no one reads the New York Times besides a few devout liberals and a whole host of conservatives (because we actually do like to listen to the other side and see if they have anything important to say…sadly Krugman has yet to say anything intelligent).
Before I combat his insane central argument, let’s deal with some of his side points.
“Federal salaries are, on average, somewhat less than those of private-sector workers with equivalent qualifications.” Uh-huh. You believe that don’t you. That given the obscene benefits and astronomical pension plans that government workers are making the same as private sector employees. Oh and I would love to know what he defines as equivalent qualifications, because on this planet I live on called Earth for the most part people with qualifications get jobs in the private sector, and people without qualifications get jobs in the public sector. Granted military, law enforcement, maybe even the State Department can attract some of the best and brightest…but really, do you actually believe anyone who could get a real job would be working for say…the TSA, or the IRS, or USDA, or the Department of Education or any kind of welfare program. No, didn’t think so.
Or let’s try this genius quote:
“The actual savings, about $5 billion over two years, are chump change given the scale of the deficit.” Granted it’s small in comparison to the whole budget, but $5 billion is not a small number. There is no single expenditure we can just cut to find $13 Trillion. Even I who loathe Social Security, Medicaid and Medicare with fiery passion know that it would be an economic disaster to just cut those lines from the budget—they need to be phased out over a period of 10 to 15 (maybe 20 years). This debt is only going to die a death of a thousand cuts. And while $5 Billion isn’t even a percentage point of the total debt it’s at least not another $5 Billion we have to pay off later.
How about this preposterously Keysian bit of delusional claptrap:
“Anyway, slashing federal spending at a time when the economy is depressed is exactly the wrong thing to do.” No it’s exactly what you need to do. The interference with the economy is what has caused excessive bubbles and excessive drops. Yes, if you cut the federal budget you will see a temporary slowdown but you will quickly see a major recovery. If you keep spending money you don’t have you will massive inflation, massive unemployment, and all the other wonderful trappings of the last days of the Wiemar Republic before Hitler took over. It would be comparable to a college student taking caffeine for two days to stay awake to finish their thesis. You can either keep pumping in larger and larger quantities of caffeine as Krugman seems to suggest, or you can stop the caffeine have a rest and then actually have a functioning system in the morning. Krugman seems to want to keep shoving caffeine into our economy until it has a massive coronary and can’t be revived. Who wants to follow this idiot’s plan? (Put your caffeine down Mr. President, you’ve already shown you don’t know jackshit about economics…or the Constitution…or public speaking…or diplomacy…or being anything other than an incompetent asshole…go write another children’s book and leave the economy to adults.)
But Krugman’s idiocy doesn’t stop with showing he knows nothing about economics. He has to make sure that he demonstrates he knows less than nothing about economics.
“Meanwhile, there’s a real deficit issue on the table: whether tax cuts for the wealthy will, as Republicans demand, be extended.” Yes, because heaven forbid we actually allow money into the economy. That might actually solve our problems. Couldn’t have that. Does everyone forget that when JFK cut taxes, revenue went up, when Reagan cut taxes revenue went up, and when Bush cut taxes revenue went up? What do you think will happen if we raise taxes? In Krugman’s world revenue will go up, in reality it will drop like a rock and you should start scouting out your place in a bread line.
But Krugman’s insanity doesn’t stop there:
“There were no comparable gestures from the other side. Instead, Senate Republicans declared that none of the rest of the legislation on the table — legislation that includes such things as a strategic arms treaty that’s vital to national security — would be acted on until the tax-cut issue was resolved, presumably on their terms.” One: everyone who actually has studied international relations says that this arms treaty is a joke. Two: But what’s the worst that happens? We don’t sign it and Russia begins to rapidly rebuild their military…cause that worked so well for them the last time. I can live with Putin’s regime collapsing like its Soviet predecessor, can’t you? Three: Republicans weren’t elected to cut deals this time. They were elected to stand strong, give no ground, no quarter, no mercy and utterly destroy everything Obama has done. Good for the Republicans for finally understanding what the voters wanted.