It seems absolutely ridiculous and embarrassing that I/we even read about this idiot…
Economics & The Economy
Still more on the Krugman – Chait – Scarborogh kerfuffle. Just a note too on my own personal observation watching the egotist blowhard Scarborough this morning (make no mistake I really like Scarborough but he is a blowhard ego maniac) whenever he seems to attack and beat on Krugman he always seems to say “our LONGTERM debt problem” which to me sounds like he is in some way trying to temper and modify what he’s said in the past and is really in agreement with what Krugman has been saying all along that our debt is not a problem we need or should be taking care of right now and is instead a long term problem (Krugman thinks ‘the Beltway conventional wisdom massively overstates the present-day significance of long-term debt and deficit worries’ and ‘there’s a very broad and deep consensus among political elites that debt and deficits are a big deal, but it’s not grounded in any particular economic insight or theory.’).
- Joe Scarborough vs Paul Krugman: CW against economics.
- It’s Not Really ‘Krugman vs. the World’ | Center for American Progress
…Krugman argued that America’s long-term deficit is not the problem that America’s political class insists it is, especially with regard to Medicare and Medicaid. Far more significant, he argued, is the challenge of “job creation,” which is currently thwarting our economic recovery from reaching millions of middle-class Americans who continue to suffer the effects of the 2008 financial crisis.
It’s not that Krugman opposed efforts to reduce the debt per se. Rather, he explained, “I’d like to see us paying down the debt but not at the cost depressing the economy right now.” Regarding Medicare and Medicaid, he added that, “Health care costs have slowed a lot lately,” and that the long-term financing problems facing these programs—as America ages, and more and more people depend on them—might not appear as critical when the time comes to deal with them….
- Incestuous Amplification, Economics Edition – NYTimes.com—