Krugman's Four Fiscal Phonies

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So, conservatives are racing about screaming about deficits again, and all our little Republican Presidential contenders are throwing out tax cut plans. But do any of them actually maintain the America we know, AND balance the budget?

Paul Krugman: Four Fiscal Phonies

Republicans use concern over the deficit as a cover for their true agenda:

Four Fiscal Phonies, by Paul Krugman, Commentary, NY Times: Mitt Romney is very concerned about budget deficits. Or at least that’s what he says; he likes to warn that President Obama’s deficits are leading us toward a “Greece-style collapse.”So why is Mr. Romney offering a budget proposal that would lead to much larger debt and deficits than the corresponding proposal from the Obama administration? Of course, Mr. Romney isn’t alone in his hypocrisy. In fact, all four significant Republican presidential candidates still standing are fiscal phonies. They issue apocalyptic warnings about the dangers of government debt and, in the name of deficit reduction, demand savage cuts in programs that protect the middle class and the poor. But then they propose squandering all the money thereby saved — and much, much more — on tax cuts for the rich.


Tax cuts for the very wealthy, almost paid for with cuts to Medicare and Social Security, along with ending any welfare for the poor.

Oh, and even larger deficits, about $5 trillion higher for Rmoney's plan. And he is the most responsible of the group. Santorum blows about $8 trillion of red ink more than the baseline. Herman 999 also wrecked the deficit.

To his credit, crazy Uncle Ron does more to achieve balance, but once you layoff most of the govt work force, and end all welfare, and create a national depression like we've never before seen, the deficit is the least of our worries. Roving bands of brigands looking for food make budgetary problems seem pale.

Phaedrus76's picture
Sep. 14, 2010 8:21 pm

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