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Politics : Just the Facts, Ma'am: A Compendium of Liberal Fiction
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From: TimF1/18/2008 9:43:49 PM
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Feelings. Nothing More Than Feelings....

Don Boudreaux

Paul Krugman is impressed with Hillary Clinton's knowledge of the economy. I'm not:

Editor, New York Times
229 West 43rd St.
New York, NY 10036

To the Editor:

Paul Krugman praises Hillary Clinton as being a presidential candidate who "seems comfortable with and knowledgeable about economic policy" ("Responding to Recession," January 14). Still praising Sen. Clinton, he adds: "there's something to be said for presidents who know what they’re talking about."

I wonder what grade Professor Krugman would give to a student whose term paper proclaimed - as Ms. Clinton did last week when announcing her economic "stimulus" plan - that "You know, the economists can argue about [whether the country is headed for a recession]. Some say, yes, it's going there. Some say, not yet. Some say, oh, no. But the statistics are one thing, the stories are something altogether different.... It doesn't matter what you're told. It's what you feel, what you feel deep down."

In my class, that answer gets an F. As imperfect as they are, statistics remain a far better guide to the facts than do feelings.

Sincerely,
Donald J. Boudreaux

Sen. Clinton's husband felt our pain. Now Ms. Clinton feels our facts...

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