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Politics : View from the Center and Left
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To: JohnM who wrote (222685)4/25/2013 1:17:55 PM
From: Steve Lokness  Read Replies (2) of 542970
 
<<<<< In the world of economists, the R-R paper, as Krugman calls it, is a very large deal>>>>>

To Krugman it might be a "very large deal" - but to those unwilling to bite into the argument it's them or us, or its black or white - it is meaningless. You have never seen me rely on this study, nor have most serious economic thinkers - it is only those on both sides of the ideological spectrum that try to grab onto anything to support their case. Politicians on both sides, Fox news and now sadly those on the far left that somehow suddenly believe every argument against wild Keynesian spending was supported only by the "R-R paper".

Where is the serious discussion of the debt issue looking at real trends? Why is demographics almost never discussed? How do we deal with the baby boomers who are just now entering retirement; shrinking their taxes because of dwindling income and increasing their draw on our social nets? Not only are they sucking more and more health care needs, they are living longer because of better medicine. We all want to believe in the idea that Krugman pushes that we can indeed live beyond our means - that we can indeed draw more and more and never worry about paying for it. Greenspan had us all believing that he was the maestro and had found a painless way of every higher home prices without a downside. Now Krugman would have you believe we can borrow endless amounts that will never cost us anything. Never cost us a sluggish future because we have reached our debt limits. Never cost us a thing. A new happy world.
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