Krugman Sanctions O’Bozo’s Several Years of Impending Deficit Red Ink.  This is Textbook Economics we are Advised.

 The New York Times—aka the Walter Duranty Papers [1]  has an all-embracing and tortuous history of apologizing for Communism, propping up losers, celebrating AIDS along with the perverted practices that spread this horror, practicing the wanton tax whoring of higher taxes for any implausible reasons, praising African and South American dictators and despots in their opinion columns and scrounging for original new ways to reinvent Marxism as a new-fangled and magical solution to achieve a great society. The Times has relentlessly praised any leftist parasite or pervert who will openly parade their dishonor in our now degenerated society.  Today, the Times goobers up some rump swab specimens and paints an economic vision of the Obama Future that seems strangely reminiscent  of a Jackson Pollack mural during one of his lost weekends. This new vision will cast the brilliance the O’Bozo Agenda upon the curtain of our future for all to witness and celebrate.   

Our newest, but least capable igNoble Lariat[2], blessed with insights and the arcane ability to dive into the particulars of command government policies will now ‘’splain’ to us what Obama offers:

“This year, however, Mr. Obama ran on a platform of guaranteed health care and tax breaks for the middle class, paid for with higher taxes on the affluent. John McCain denounced his opponent as a socialist and a “redistributor,” but America voted for him anyway. That’s a real mandate.”[3]-- The Obama Agenda by Paul Krugman Op-Ed Columnist Published: November 7, 2008

True enuf:

“What about the argument that the economic crisis will make a progressive agenda unaffordable?”-- Paul Krugman November 7, 2008

Good question!

“Well, there’s no question that fighting the crisis will cost a lot of money. Rescuing the financial system will probably require large outlays beyond the funds already disbursed. And on top of that, we badly need a program of increased government spending to support output and employment. Could next year’s federal budget deficit reach $1 trillion? Yes.”--Paul Krugman November 7, 2008

Didn’t O’bozo favor a balanced budget amendment?

“Only a Balanced Budget Amendment can protect us against future irresponsible wars and future irresponsible tax cuts. Had a Balanced Budget Amendment been in place when Bush took office, he never would have been able to enact his disastrous tax plan, nor could he have gotten us into the Iraq war: the money simply would not have been available”.[4]—ohboyobama website

“…[criticizing Bush tax cuts….  when instead they [Republicans ] can bypass all of that and leave it to future generations to deal with the consequences? Barack says "ENOUGH,"[5] ohboyobama website

Obama said ENUF to debt to be paid by future generations? Really?

“But standard textbook economics says that it’s O.K., in fact appropriate, to run temporary deficits in the face of a depressed economy. Meanwhile, one or two years of red ink, while it would add modestly to future federal interest expenses, shouldn’t stand in the way of a health care plan that, even if quickly enacted into law, probably wouldn’t take effect until 2011.”-- Paul Krugman November 7, 2008

Krugman seems to be at odds with O’Bozo here!  O’Bozo favors high taxes.

“When governments seek to maintain the high levels of taxation they reached in good times in these days of seriously impaired income, the impending specter of higher taxes constitutes one of the chief deterrents of business recovery.[6]”-- St. Louis Chamber of Commerce 1931.

Krugman probably still believes in John Maynard Keynes as he advocated public works programs and deficits as a way to get the British economy out of the Depression.  This is described in his book The General Theory.[7] This failed during the Great Depression as the people saved the money or paid off debts, exactly the thing that happened with our first of many 150 bln dollar bailouts.[8] The book was published in 1936 after he had sufficient time to see that his notions had failed Hoover and FDR.  Keynes was a sensation in the camps of Stalin, FDR, Hitler and Stalin—he was the only   one all four celebrated as his phony economics gave them the license to spend and spend and spend.

“Keynes himself placed equal emphasis on redistributive taxation and a monetary policy of ‘cheap money’ as well as fiscal policy, and he did not believe governments should run deficits for current consumption, as opposed to public investment. He was by no means a socialist in the usual sense and did not advocate big government for its own sake.”[9]—Wikipedia on the Keynes book: The General Theory of Employment, Interest, and Money 1936 [3-4 years after the low point of the depression.]

On Nov 7 2:59 PM EST Obozo just axed us to ’put aside politics and partisanship’ to help solve this problem and calls for a new stimulus package.

We wonder about a few things here in light of the krugmaniacal rants and the wild changes in fiscal policy by O’Bozo:

Are we going to mix and match Keynes, Obozo and Paulson economics with the possible outcome that we might print too much money and jump headlong into hyperinflation? Is it true that inflation rates of 20-50% will moderate our national debt?  We might all be billionaires! We can blame just about everything on Bush2. It seems that Paul Krugman is willing to accept any form of big government or socialism with huge debts or not if we can only avoid any hint of a tax cut. Krugman is only defiant on one issue in economics and that is the notion of Tax Zombies. [10] Anything else is permitted if he hears his Master’s Voice [O’Bozo] calling from the clouds. I wonder if Krugman was able to obliterate any mention of the economic benefits of tax cuts in his so-called text books during the JFK, Reagan and Bush Eras. Can he ever think of a tax cut as anything other than a ‘cost?’ Does anybody remember the excessive taxes of the Carter Era? Clinton would have hiked taxes but Newt Gingrich halted this nostrum. 

Is Nancy Pelosi listening to this speech and what does this directive to ’put aside politics and partisanship’ mean to her?

Krugman basks in the warm glow of his Master’s Image shining down from Mount Olympus and will pull any switcheroo or  roundabout if the command signal reaches his cranium.

 Obozo and Krugman advocate raising taxes as does the California Cluster, those in Michigan and now Bloomeyburger takes back tax breaks and fires 1000 cops and puts in 200 Meter Monkeys to grub $60,000,000 in parking fines for New York City.

Let us tax our way to prosperity!! A trillion here and a trillion here!

rycK

Comments: ryckki@gmail.com