You must not have a read my post. I also stated that Reagan spent like a drunken sailor. So we're agreed.
BTW, Paul Krugman is a charlatan. Check out this article below. In it he concludes:
nytimes.com
Our exaggerated fear of debt is, in short, creating a slow-motion catastrophe. It’s ruining many lives, and at the same time making us poorer and weaker in every way. And the longer we persist in this folly, the greater the damage will be. So I had to ask myself whether Krugman is right that we have really been so afraid of debt that we've reduced our spending and debt so much in the last 4 years that it is "making us poorer and weaker in every way". So I did what I always do when I read things that fly in the face of common sense. I double check the data. Here's what I found:
Total US Debt during Obama's years in office (in Trillions:
12/31/2008 = $10.700
12/31/2009 = $12.311, increased $1.611
12/31/2010 = $14.025, increased $1.714
12/31/2011 = $15.223, increased $1.198
12/31/2012 = $16.433, increased $1.210
04/19/2013 = $16.782, increased $0.349...annualized = $1.169
The conclusion is clear. Our Congress is not only completely UNafraid of debt, they have fully embraced it in full alignment with the Keynesian principles that Krugman holds dear. The only question I have left is why does Krugman persist in believing that spending money we don't have and printing and borrowing to do it will improve our employment situation, when by his own admission, following those policies hasn't done much to improve it in the last 4+ years? As I said, Krugman is a charlatan and he's selling snake oil. |
