Krugman: Deficits are bad, Bad, BAD BAD!!!

Discussion in 'Economy' started by CrusaderFrank, Jul 9, 2011.

  1. CrusaderFrank
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    CrusaderFrank Diamond Member

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    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. It's biggest than Argentina in 2001. Which is not cyclical, there's only a little bit that's because the economy is depressed.

    11/03/2004

    Lateline - 11/03/2004: Krugman calls on Bush to reign in the red

    The turn to budget deficits was a direct result of the new, Irving-Kristol inspired political strategy of pushing tax cuts without worrying about the “accounting deficiencies of government.”

    September 30, 2009,

    Moral decay? Or deregulation? - NYTimes.com

    Wrong Way Krugman, off in the Trillions Column but, like Gore, Yasser Arafat and Obama, he has a Noble Prize.
     
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    Last edited: Jul 9, 2011
  2. Toddsterpatriot
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    Toddsterpatriot Gold Member

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    Poor Paul, he's spinning so fast he's gonna pull something.
     
  3. Zander
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    Zander Platinum Member

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    When an "economist" has a leftist political agenda this is what happens:

    Deficits are bad if the POTUS is a Republican.
    Deficits do not matter if the POTUS is a Democrat because it was the Republican's fault.

    Wash, rinse, repeat as often as needed.


    Also, turn inside out for Republicans......

    Deficits are bad if the POTUS is a Democrat
    Deficits do not matter if the POTUS is a Republican because it was the Democrat's fault.

    Wash, rinse, repeat as often as needed.

    :lol::lol:
     
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  4. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Yeah, as an "economist" Krugman is every bit as disingenuous as the ManMade Global Warming "Scientists"

    Zander nailed it: Rep Deficits = Bad, Obama Deficits = good
     
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  5. parkinson1963
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    parkinson1963 Rookie

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    Au Contrair

    Krugman is a strict Keynesian.

    During good times (ie BUSH) you do not run a deficit, you try to run a profit.

    In bad times (ie Obama) you run a deficit to help stave off a full depression and to prime the economical pump.

    As stated in the Bible, Genesis 41:29
     
  6. CrusaderFrank
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    CrusaderFrank Diamond Member

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    And how's that whole pump-priming thingy working out?
     
  7. Antiderivative
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    Antiderivative BANNED

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    The recession ended back in June 2009. By your logic we should be running a surplus, not going trillions dollars into debt.
     
  8. Trajan
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    Trajan conscientia mille testes

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    Krugman is a smart guy, BUT he has allowed his 'liberal conscience' to take over and absorb every bit of objectivity there was. *shrugs*
     
  9. hellofromwarsaw
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    hellofromwarsaw BANNED

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    See, under Bush, Krugman actually counted the WARS IN THE BUDGET!! And the stimulus worked great until Scott Brown got in and the A-HOLE Pubs could start the austerity/obstruction/fear mongering thing. It's your GD economy....but it'll be all right STILL after the debt ceiling fight is finally over....GD dismal Pubs and their vulgar dupes....
     
  10. waltky
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    waltky Wise ol' monkey Supporting Member

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    Boehner blinks...
    :confused:
    Boehner to seek smaller $2 trillion deal
    Jul 9,`11 WASHINGTON (AP) - House Republican budget negotiators have abandoned plans to pursue a massive $4 trillion, 10-year deficit reduction package in the face of stiff GOP opposition to any plan that would increase taxes as part of the deal. House Speaker John Boehner informed President Barack Obama Saturday that a smaller agreement of about $2 trillion was more realistic.
     

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