January 28, 2014

Paul Krugman

Liberal New York Times columnist Paul Krugman. Photo: Wikimedia

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?

Comments (1)

DR. Dieter Hornemann J,D. - January 28, 2014

First let me say that the picture above is a nice picture of Mr. Paul Krugman. However I cannot say anything nice about his excerpt. Are you sure Mr. Krugman is a columnist, much less a columnist for the N. Y. Times? Mr. Krugman must be reminded that the main purpose of writing is to communicate clearly to the reader. He has not communicated any clear thought to me in his excerpt. He appears to be a writing in a code that I am not privileged to have the key for. Therefore he might as well be writing in Russian. I am suprised the N.Y. Times has such low standards when it comes to hiring their columnists. Or, maybe he was drinking alcohol at the time he wrote this excerpt and was a little tipsy. It is possible that being a columnist, or even a leftist progessive Democrat could drive one to drink.

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