Topic Can Romney/Ryan get elected?
14 Oct 2012 15:30
The New York Times
Triumph of the Wrong?
By PAUL KRUGMAN
Published: October 11, 2012 744
This same observation, of course, offers a partial excuse for the economy’s lingering weakness. And the question we should ask given this unpleasant reality is what policies would offer the best prospects for healing the damage. Mr. Obama’s camp argues for an active government role; his last major economic proposal, the American Jobs Act, would have tried to accelerate recovery by sustaining public spending and putting money in the hands of people likely to use it. Republicans, on the other hand, insist that the path to prosperity involves sharp cuts in government spending.
And Republicans are dead wrong.
The latest devastating demonstration of that wrongness comes from the International Monetary Fund, which has just released its World Economic Outlook, a report combining short-term prediction with insightful economic analysis. This report is a grim and disturbing document, telling us that the world economy is doing significantly worse than expected, with rising risks of global recession. But the report isn’t just downbeat; it contains a careful analysis of the reasons things are going so badly. And what this analysis concludes is that a disproportionate share of the bad news is coming from countries pursuing the kind of austerity policies Republicans want to impose on America.
O.K., it doesn’t say that in so many words. What the report actually says is: “Activity over the past few years has disappointed more in economies with more aggressive fiscal consolidation plans.” But that amounts to the same thing.
For leading Republicans have very much tied themselves to the view that slashing spending in a depressed economy — “fiscal consolidation,” in I.M.F.-speak — is good, not bad, for job creation. Soon after the midterm elections, the new Republican majority in the House of Representatives issued a manifesto on economic policy — titled, “Spend less, owe less, grow the economy” — that called for deep spending cuts right away and pooh-poohed the whole notion that fiscal consolidation (yes, it used the same term) might deepen the economy’s slump. “Non-Keynesian effects,” the manifesto declared, would make everything all right.
Well, that turns out not to be remotely true. What the monetary fund shows is that the countries pursing the biggest spending cuts are also the countries that have experienced the deepest economic slumps. Indeed, the evidence suggests that in brushing aside the standard view that spending cuts hurt the economy in the short run, the G.O.P. got it exactly wrong. Recent spending cuts appear to have done even more harm than most analysts — including those at the I.M.F. itself — expected.
If Mr. Obama wins, he’ll presumably go back to pushing for modest stimulus, aiming to convert the gradual recovery that seems to be under way into a more rapid return to full employment.
Republicans, however, are committed to an economic doctrine that has proved false, indeed disastrous, in other countries. Nor are they likely to change their views in the light of experience. After all, facts haven’t gotten in the way of Republican orthodoxy on any other aspect of economic policy. The party remains opposed to effective financial regulation despite the catastrophe of 2008; it remains obsessed with the dangers of inflation despite years of false alarms. So it’s not likely to give up its politically convenient views about job creation.
And here’s the thing: if Mitt Romney wins the election, the G.O.P. will surely consider its economic ideas vindicated. In other words, politically good things may be about to happen to very bad ideas. And if that’s how it plays out, the American people will pay the price.
This is to funny now just to be up front I edited a little out of Krugman's rant because it was mildly irrelevant non the less Krugman actualy MAKES THE CASE for Romney/Ryan, to damn funny! Obama's so called (jobs act) sent OUR TAX DOLLORS to Findland to a company called Fiskers that was (supposed) to build a plant in an empty Gm facility but backed out yet (kept) our stimulas money. Then there are these. As President Obama the “outsourcer-in-chief” based on the stimulus spending for foreign projects. “Among them are solar panels built in Mexico, electric delivery trucks assembled in Great Britain and parts used to build U.S. wind-power farms that came from South Korea, Japan and Mexico, not to mention companies in Veitnam, India, Italy, Spain, France and at least a half dozen other countries. Not to mention his (speculating) into (venture capitalisum) which by the way is what Bains Capital does but OBAMA gave (OUR MONEY) to THREE companies to cronies that (contributed large sums to his campain) that went BANCRUOPT with OUR MONEY! Bains money was THEIR MONEY not OURS! A BIG MEGA-DIFFERANCE! That said OBAMA spent over $10,000.00 bucks (EACH) just for SIGNS to put up at any (street) improvement in any city let alone any other project somply saying (American reinvestment act project). MILLIONS for fucking SIGNS! Back to Krugman YES reducing spending LOWERING and ELIMINATING THE DEBT gives the U.S. MORE SPENDING POWER on the social programs that the socialist like Krugman LOVE and Americans have come to (DEPEND ON) DUH! If A TRILLION DOLLORS A YEAR is spent ON INTEREST ALONE (OBVIOUSLY) raising our DEBT and bringing us ever closer to COMPLET and TOTAL DEFAULT (bancruptcy) when we can NO LONGER send out a check for S.S. pay for Medicare, or Retirment benifits for Gov. workers, pay for our soldiers or (working Govt. workers) then HOW THE HELL does SPENDING MORE TAX MONEY (Our MONEY) taking us FARTHER IN DEBT. make ONE DAMN BIT OF SENSE? That is like saying when YOU are in default on your mortgage and out of work then you go out and buy a two hundred dollar pair of shoes a five hundred dollar suite and a fifty dollar tie and saying it is an (investment) to get a job even though you (already) own nine suits, six pairs of shoes and two dozen ties. Krugman simplfies the Republican agenda as (spending cuts) there is MUCH MUCH more to it then that but THAT is a differnt topic then Krugmans artical. Obama wants to (sustain PUBLIC) spending what he is REALLY saying is Obama wants to (sustain) GOVT. JOBS fine then the (question is simple) WERE does the MONEY to (sustain public spending) and those jobs come from? OUR TAX MONEY! Which in turn ADDS TO THE DEBT and is money we have to BORROW from CHINA to pay them! Which ADDS to the INTEREST that brings us even CLOSER TO BANCRUPTCY! So Romney and Ryan say that there are (REDUNDANT) and (IRRISPONSABLE) govt programs with yes (Govt workers) that can be and SHOULD BE eliminated thus bringing (DOWN) our spending and REDUCING the amount we have to (borrow) reducing our (interest) and getting us closer to spending ONLY what the Govt takes in from Tax money. Which then gives US MORE money to pay for the SOCIAL PROGRAMS the LEFT LOVES! Again I say DUH! It is NOT (IMPOSING) anything on Americans! Govt. workers earn TWICE WHAT YOU EARN with BENIFTES FOR LIFE that YOU DO NOT GET that (WE the taxpayer) Can NOT PAY FOR with out BORROWING IT FROM CHINA adding to OUR DEBT! Romney/Ryan say they want YOU to KEEP your EARNINGS FROM YOUR HARD WORK from having to (RAISE YOUR TAXES) to pay for Govt. workers that earn (TWICE) what people in the (same) job that work at in (private companies) then receive TWICE the retirement and health benefits (for life) that are EQUAL to the pay they made when they worked! Which is an oxymoron in the first place in many cases! I have not made this up I have FIVE family members that were ALL Govt. workers (now retired) and I KNOW that all I said above is FACT! Now Krugman talks of the bad news from the world and that the (disproportionate) news is from the countries that are (imposing) austerity measures that Republicans want to (IMPOSE on Americans) Krugman is NOT talking about JOE BLOW and the AVERAGE JOHN the FACTORY WORKER he is talking about (GOVT. JOBS) this is (NOT) an IMPOSITION ON (AVG) AMERICANS it is in fact (absolutely the OPPOSITE)!! But Krugman does not tell you that he LEADS YOU TO BELIEVE that it hurts ALL AMERICANS WHEN IN FACT what hurts (AVG AMERICANS) the (Middle class) is the IMPOSITION on (THEM) to PAY for (PUBLIC SPENDING) with OUR EARNINGS! BECAUSE OF OBAMAS POLICY OF (PUBLIC SPENDING) (FOR HIS CONSTITUANCY.. GOVT WORKERS!!) The austerity measures in countries like GREECE and SPAIN are necessary because the (tax dollars) taken in and the (extreme) benefits given out not only to Govt. workers but EVERY CITIZEN soon was (SO MUCH MORE) then the tax they took in forcing them to BORROW so much that when the (house of cards fell) and became MORE then they could even pay on the (INTEREST) causing default or (bankruptcy) the ONLY thing that kept them from that was GERMANY that keeps lending them money with the (provisions) that they REDUCE their spending to the level of their tax dollars taken in! OH MY GAWD THE HORROR! But Krugman does NOT TELL YOU ANY OF THAT!! And for that the Socialists in Greece and Spain Riot, Burn Buildings, Pillage and act out VIOLANTLY and (ONLY BECAUSE) the Govt. has to do what they NEVER SHOULD HAVE DONE in THE FIRST PLACE is (GIVING MORE then THEY HAVE) then BORROW money to PAY FOR WHAT THEY CAN NOT AFFORD! And THAT my fellow Americans is what the Socialist like Krugman and OBAMA want US to do, SPEND MORE THEN WE HAVE BORROW MONEY TO PAY FOR IT so then what can we expect? That is a question.. the answer of course is BANCRUPTCY and there is NO COUNTRY ON EARTH that can keep us afloat NOT GERMANY NO ONE except maybe China and just EXACTLY WHAT do you think THIER DEMANDS WILL BE? Reduce our Armed forces? CUT S.S. Medicare, Welfare? Then what RIOTS, PILLLAGING, BURNING BUILDINGS, VIOLANCE in (OUR) STREETS!? China would LOVE THAT! Krugman says well they did not (ACTUALY) say that but they said that more economies were (disappointing) BECAUSE of more aggressive (fiscal consolidation plans) in other words YES they cut spending but GERMANY still had to GO BACK LEND MORE and DEMAND MORE WHY? Because they STILL had not CUT ENOUGH! Thereby KEEPING the economies (depressed) and of course (disappointing) For THAT the Socialists in Greece and Spain are calling Germany NAZIS sound familiar in OUR COUNTRY? WHO HAS and IS calling REPUBLICANS NAZIS? The LEFT and the SOCALISTS LIKE KRUGMAN! Krugman notes that the economies that experience the most sever depression are the ones making the deepest CUTS in spending. TRUE however they were ALREADY the countries in the DEEPEST ECONOMIC DEPRESSION! The CUTS they have made has NOT KEPT them depressed as Krugman WANTS YOU TO BELEIVE. It is the mere FACT that they have NOT YET CUT (ENOUGH) to bring them to a point of spending LESS then they TAKE IN! (AUSTERITY) It does not help that the WORKERS in Greece and Spain have STRIKED to get their so called (FREE) benefits SUBSIDIZED BY THE GOVT. of course that means (taxpayers) so striking workers means LESS taxes paid in causing the cycle to start all over again. LESS IN MORE OUT! Again Krugman WILL NOT tell you THESE FACTS! Krugman proclaims that MORE STIMULAS will (gradually) improve employment we did that TWICE and STILL it has not even come CLOSE to what Obama PROMISED! But we HAVE INCREASED OUR DEBT BY FIVE TRILLION DOLLORS more then DOUBLE then EIGHT YEARS year’s under Bush in only four years! So Krugman declares that BORROWING MORE and MORE DEBT which means HIGHER TAXES which means LESS MONEY for JOE BLOW THE FACTORY WORKER TO SPEND to buy that BOAT HE ALWAYS WANTED! And do NOT BE FOOLED taxing (The RICH) even at 100% would ONLY RUN THE GOVT for 30 DAYS! So then what? OBAMA and KRUGMAN WILL NOT TELL YOU that the ONLY MEASURE LEFT is to (TAX THE MIDDLE CLASS) MORE then they do NOW! So the 35 or (actual) closer to 50% with federal energy (gas, elect, fuel) tobacco liquor (medical supplies) etc. etc. is more like 50% Obama would likely not raise (INCOME TAX) but pursue the CLANDESTINE TACTIC of (Raising fed income tax on EVERYTHING ELSE)! The ONLY AMERICANS that would KNOW are those like ME that WATCH EVERYTHING THEY DO! 90% of Americans would uselessly complain that the price of EVERYTHING has gone up! Then what? You have LESS TO SPEND so You can BUY LESS which means Companies MAKE LESS which means MORE people are LAID OFF which, means MORE UNEMPLOYMENT which means MORE WELFARE and then we have to BORROW MORE to PAY MORE and the cycle continues! THAT IS KRUGMAN AND OBAMAS GRAND IDEA! So to get to the conclusion of Krugman’s Rant that the economic doctrine of Republicans that has proved (false) is simply and bluntly a LIE! JFK successfully did what Romney/Ryan are proposing so did Regan and yes G..W BUSH because the TRUTH IS with ALL OF CLINTONS BLUSTER that (HE) balanced the budget is 100% FALSE YES it WAS DONE while he was president with a REPUBLICAN CONGRESS and SENATE (THEY MAKE THE BUDGET!) NOT the President! The President can do (ONLY) ONE OF TWO things he APPROVES IT or VETOS it and if he VETOS it then goes (back) to the SENATE that can only (override) the veto with a TWO THIRD MAJORITY VOTE and THEY HAD THAT so Clinton HAD NO CHOICE but sign it! And then the (DOT COM BUBBLE BROKE) cascading us into a RESSESION by (BEFORE) Clinton LEFT OFFICE and BUSH TOOK OVER! Six months later we had 9/11 THAT DEEPENED the RESSESION THAT Bush (INHERITED) so he did what BOTH JFK and REGAN did that ENDED THE RESSION bringing us down to a 5.2% UNEMPLOYMENT that (virtually) means that EVERYONE that WANTS to work IS WORKING and the ones that can NOT WORK (no fault of their own) are counted as unemployed (regardless) of the FACT (they can NOT WORK). (BTW for the record REGANS RECESSION WAS WORSE THEN OBAMA’S) Then the (Housing bubble burst) that was CAUSED BY legislation from DEMOCRATES and some Republicans that made it possible for ANYONE TO BUY A HOUSE even IF the COULD NOT AFFORD ONE. Cascading us into ressesion AGAIN! I PERSONALY know many that got caught up in this INCLUDING my brother who is (disabled) and gets $1100.00 a month in S.S.D. and was given a loan for a house in value of OVER150K his mortgage was 1k a month leaving him $100 to pay for EVERYTHING ELSE (elect. Gas, groceries) you get the idea. I asked him THEN HOW THE HELL are you going to LIVE? His response like the MILLIONS of people that did the SAME THING was ( I’ll figure it out.) Then within TWO YEARS FORECLOSER! Hell WE bought a house for 98k at the same time still paid on our old house for six months before selling it and WE earned a little over 6k a month and the six months before selling our old house that was worth then about 72K sold it for 70k and still made about 5k in the sell. Even after THAT we had to watch our budget to pay for EVERYTHING ELSE! CONCLUSION WE SPENT LESS THEN WE TOOK IN! My brother SPENT MORE then HE TOOK IN! He lost we still have our home and just refinanced for 3.2% and will pay about $130.00 bucks LESS a month giving us MORE TO SPEND to buy things to KEEP AMERICAN’S WORKING! Under Romney/Ryan they want to Tax the (RICH) by closing loopholes to REDUCE MIDDLE CLASS Taxes giving US MORE OF OUR OWN MONEY to spend to BUY MORE to KEEP AMERICANS WORKING! OBAMAS PLAN and AS KRUGMAN (ADMITTS) is to (SUSTAIN PUBLIC SPENDING) or what he is (REALLY) SAYING is GOVT, JOBS and MORE WELFARE to SPEND MORE. TAKE MORE ,TO SPEND MORE. TO BORROW MORE. TO PAY FOR WHAT WE SPEND ON PEOPLE THAT TAKE MORE, AND GIVE LESS! So the choice is CLEAR! Obama’s plan to BANCRUPT EVERYONE! Or Romney’s to allow us (MIDDLE CLASS) to KEEP MORE so (WE) can SPEND MORE, THE WAY (WE) WANT TO FOR (OUR) OWN FAMILIES and GIVE LESS! Thank you KRUGMAN YOU SOCIALIST PIG for MAKING OUR POINT!!