Krugman: "It's Time For A U-Turn"

[kpete]

And there’s a reason for that association: U.S. conservatives have long followed a strategy of “starving the beast,” slashing taxes so as to deprive the government of the revenue it needs to pay for popular programs.

The funny thing is that right now these same hard-line conservatives declare that we must not run deficits in times of economic crisis. Why? Because, they say, politicians won’t do the right thing and pay down the debt in good times. And who are these irresponsible politicians they’re talking about? Why, themselves.

To me, it sounds like a fiscal version of the classic definition of chutzpah — namely, killing your parents, then demanding sympathy because you’re an orphan. Here we have conservatives telling us that we must tighten our belts despite mass unemployment, because otherwise future conservatives will keep running deficits once times improve.

Put this way, of course, it sounds silly. But it isn’t; it’s tragic. The disastrous turn toward austerity has destroyed millions of jobs and ruined many lives. And it’s time for a U-turn.

MORE:
http://www.nytimes.com/2013/05/06/opinion/krugman-the-chutzpah-caucus.html?smid=tw-NytimesKrugman&seid=auto&_r=1&

[byeya]

1. Don't just hint at it Prof Krugman, say it: The Republican party and allied conservatives lack the

knowledge, skills, and ethics to run the USA for the benefit of all Americans.

[Myrina]

6. No, they just lack the INTEREST to do so.

n/t

[deutsey]

2. Making a U-turn is difficult

when you're stuck in a ditch.

[bvar22]

8. Making a U-Turn is IMPOSSIBLE when there is no Opposition Party to Austerity...

... despite wide popular support for one.




[font color=firebrick][center]"There are forces within the Democratic Party who want us to sound like kinder, gentler Republicans.
I want a party that will STAND UP for Working Americans."
---Paul Wellstone [/font][/center]
[center][/font]
[font size=1]photo by bvar22
Shortly before Sen Wellstone was killed[/center][/font]

[deutsey]

9. Very true

One party drove us into the austerity ditch and the other keeps insisting we have to keep flooring the accelerator.

[Newest Reality]

3. The irony of Repubicans!

People who get into government to impede and eliminate the benefits of government should actually be the first to go. If you want to drown the process in a bathtub, (so that neo-Fascist corporate interests can practice their neoliberal love) then at least step-up and be our sacrificial rubber duck.

In that sense, smaller government in the form of political liposuction is fine with me. We don't need any more ideological oxymorons upchucking their agendas all over our well being.

Signal for the U-turn before you make it.

[LittleGirl]

4. Yesterday Hubby observed

that Krugman has been correct all along. There's some smart guys - both hubby and Krugman.

[reformist2]

5. Mr. Krugman needs to be advocating higher taxes on the rich.

He's not going to get much traction with his argument for more stimulus (which we do need, imo) while we still have trillion dollar deficits...

[magellan]

10. Why not continue arguing for stimulus as well?

The austerity model is wrong, not only obviously so (because there isn't a country where it's been deployed that isn't mired in sluggish growth and high unemployment/under-employment, at best), but wrong in its actual founding research - if you can call it that. Deficit spending is exactly what we should have been doing all along.

[reformist2]

11. He should - it's just that when deficits are already so high, it's easy for opponents to attack him.

[magellan]

13. Well, they'll attack him no matter what

One of the great things about Krugman is he doesn't let them get away with it. I wish he worked for the administration.

[kitt6]

7. Time for a U-turn?

Won't be. Because they and their 20 % followers are ignorant as hell!

[Tierra_y_Libertad]

12. I'd settle for a sharp left turn.

[bvar22]

15. I would too!

... because I checked the map, and we're headed in the WRONG direction.

We already KNOW what works:

*90% tax rate on the Highest Bracket,

*minimum Capital Gains Tax of 25%,

*international Trade Polices that protect American Jobs, Wages, Benefits, and the Environment

*Fair Competition regulations that prevent the Big Boxes from undercutting Locally Owned businesses

*Trust Busting ANYTHING that approaches "Too Big to Fail"

*Massive Government Spending on Infrastructure

*Expansive Government JOBS programs,

*FREE Higher Education,

*REAL government assistance for low cost quality housing,

Those policies are NOT theory.
They are the HISTORY of the 50s and 60s here in the USA.
Those policies built the largest, wealthiest, and most upwardly mobile Working Class the WORLD had ever seen.

POOR/Working Class people with Money to Spend is the foundation a good economy.

Lets try THAT again!


[font color=firebrick size=3][center]The Democratic Party is a BIG TENT, but there is NO ROOM for those
who advance the agenda of The RICH at the EXPENSE of LABOR and the POOR. [/font][/center]