After The Heritage Foundation announced last week that we had hired Stephen Moore as our chief economist, liberal New York Times columnist Paul Krugman launched an attack on both Heritage and Moore.
Here’s an excerpt:
The point, anyway, is that the newly non-crazy Heritage will now have a chief economist who is the equivalent, for the dismal science, of having a chief scientist who denies climate change and evolution. If this counts as a move toward sanity, think of what that says about the starting point.
Moore responded yesterday by pointing out the serious flaws in the Keynesian economics that Krugman espouses, which led to President Obama’s costly and unworkable stimulus spending program:
We had a great $830 billion experiment in government as stimulus and it gave America the weakest recovery from a recession in modern times. Perhaps Krugman hasn’t noticed that four and a half years into the “recovery,” there are still close to 20 million Americans who are unemployed, forced into part-time employment, or who have stopped looking for work altogether. Polls indicate that about half of Americans still think we are in a recession, maybe because the middle class has LOST $2,000 in income since the Obama recovery started.
And Moore challenged Krugman to a debate on economic issues. We will keep you posted on whether Krugman accepts the challenge.
Who do you think would prevail in this debate?