Yesterday, Professor Krugman had a post up on his blog on the Baltic economies where he noted that their GDP and unemployment rates were, shall we say, less than the stellar performance promoted by the fans of austerity.
I made the same observations a few weeks ago, where I noted that the US economy -- where we engaged in stimulus spending -- was actually performing far better than the Baltics.
This is probably the only time in my life where I'll publish an observation before a Noble Price winner, so I'll take the credit.
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To give Krugman his due, he HAS been out there tyring to save Europe from the Germans themselves, not to mention fending off the gnat-bites of Liliputian right-wing econoblatherers.
You can put me on record as predicting that the U.S. will follow in the socialistic, debt-ridden footsteps of Europe if Obama is elected to a 2nd term. You heard it here first.
You don't get the prize if you can't spell Nobel, btw.
Anon: the U.S. national debt is in fact the Reagan-Bush national debt. Supply-side economics has been an abysmal failure.
http://zfacts.com/p/318.html
"Anon: the U.S. national debt is in fact the Reagan-Bush national debt. Supply-side economics has been an abysmal failure.
http://zfacts.com/p/318.html"
That is some pretty poor economic analysis on that site. For one, blaming Reagan-Bush for tax cuts only takes into account half of the ledger. There is spending too, and the Democrats were more than happy to contribute to increased spending whenever they could. They would have in the 90s too, had they been able to pass HillaryCare. Number two, that site comes to its highly political conclusion by assuming that growth would have been just as strong during these years had taxes remained high. that is not serious analysis.
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