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Paul Krugman Liberals Vs. Sanity On Spending

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Posted on August 2 2010 8:00 pm
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Yeah, just look away from all that debt piling up...

The man who may be the most famous liberal columnist in America, the New York Times’ Paul Krugman, is an advocate of completely unrestrained spending. His attitude, which seems to be shared by the Democratic leadership in D.C., is that America can spend an unlimited amount of money with no serious consequences, that we should do so in order to pump up the economy, and then at some undefined later point, somebody else will have to restrain spending. Incidentally, this was not Paul Krugman’s attitude early on in the Bush Administration. The Paul Krugman from back then sounded a great deal more concerned about fiscal conservatism than the Paul Krugman of today does.

Setting aside the fact that the evidence government spending can drive economic growth in this country is sparse indeed — and that the debt crisis in Europe that’s already hitting Greece and could easily hit us in a few years — at what point do we say we simply admit that we don’t have the money to pursue this liberal economic pipedream any more? Put another way, America has spent far too much, for far too long, and because of that, even if Krugman’s desire to borrow and spend our way to prosperity worked (which it doesn’t), we’re so deep in the red that the cure would be worse than the disease.

Incidentally, lest you think, “Borrow and spend our way to prosperity” isn’t a fair representation of Krugman’s liberal position, here are some of his quotations on the subject:

It’s politically fashionable to rant against government spending and demand fiscal responsibility. But right now, increased government spending is just what the doctor ordered, and concerns about the budget deficit should be put on hold. — Paul Krugman

Read the rest at Right Wing News

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