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Obama's Cronkite Moment?
Townhall.com ^ | August 31, 2010 | Cal Thomas

Posted on 08/31/2010 5:31:44 AM PDT by Kaslin

President Obama may have experienced his Walter Cronkite moment over the economy.

Responding to Cronkite's reporting from Vietnam four decades ago that the only way to end the war was by negotiating with the North Vietnamese, President Lyndon Johnson was reported (though never confirmed) to have said, "If I've lost Cronkite, I've lost Middle America."

Now President Obama appears to have "lost" New York Times liberal economic columnist Paul Krugman. Krugman, who enthusiastically supported the president's redistributionist and stimulus plans, has bowed to the reality that they are not working. In a recent column titled "This is Not a Recovery," Krugman took issue with the president and Vice President Joe Biden that we have experienced a summer of economic recovery. "Unfortunately, that's not true," he wrote. "This isn't a recovery, in any sense that matters. And policymakers should be doing everything they can to change that fact."

Krugman asked an essential question: "Why are people who know better sugarcoating economic reality? The answer, I'm sorry to say, is that it's all about evading responsibility."

It is that, and more. The administration is so locked into its left-wing, "tax, borrow and spend" ideology that it has become like someone trapped in a cult: unable to escape and endlessly repeating the same mantra.

In a speech last week to central bankers and economists in Jackson Hole, Wyo., Federal Reserve Chairman Ben Bernanke acknowledged the economy is fragile, especially in light of the government's latest report, which showed the weakest quarterly growth in a year. He added that high unemployment poses a serious threat. Still, Bernanke tried to sound optimistic by forecasting some pickup in growth in 2011 and beyond.

Optimism not based on reality is false hope based on wishful thinking. One might as well ask a high-performance engine to run at peak level after several of its cylinders have been disabled. It is impossible, no matter how shiny the paint job.

An economy burdened down with debt because of too much government spending, a health care law that will add new and unknown burdens, expiring tax cuts that will take more money from the private sector for government to waste and abuse, and a stock market unsure and thus unable to fuel the economic engine to propel us out of this recession, is not a "summer of recovery," but a winter of discontent.

The solution is not a "Star Trek" approach in which we must go where no one has gone before. We know what works and what must be done. Social Security and Medicare must be reformed; government programs that have failed, or are obsolete, should be scrapped; military spending designed to enhance re-election prospects for some members of Congress, while doing nothing to improve the military, must be ended, and people should be asked to return to the attitude of previous generations that all of us, including government, must live within our means.

Writing in U.S. News & World Report, publisher Mort Zuckerman takes the Krugman view a step further by calling the administration he once supported "The Most Fiscally Irresponsible Government in U.S. History."

Zuckerman writes: "People see the stimulus, fashioned and passed by Congress in such a hurry, as a metaphor for wasted money. They are highly critical about the lack of discipline among our political leaders. The question that naturally arises is how to forestall a long-term economic decline."

The answer is for the Republicans, so eager and so likely to regain power in the House and possibly the Senate in the coming election, to expose the administration's sugarcoating of reality and get out the bad-tasting medicine. The good news is that by swallowing fiscal responsibility, we will all be better off in the end. But can Republicans withstand and prevail over the Democratic demagoguery that will predictably be heaped on them? They'd better, or they don't deserve to lead.

As Walter Cronkite used to say, "That's the way it is."


TOPICS: Business/Economy; Culture/Society; Editorial; Government; Politics/Elections
KEYWORDS: cronkite; krugman; moment; obama; obamas; paulkrugman

1 posted on 08/31/2010 5:31:46 AM PDT by Kaslin
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To: Kaslin

Krugman is like Dan Rather minus the credibility.


2 posted on 08/31/2010 5:36:04 AM PDT by South40 ("Islam has a long tradition of tolerance." ~Hussein Obama, June 4, 2009, Cairo, Egypt)
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To: Kaslin

Insanity is trying the same thing over and over and expecting a different result.
Will the Leftists finally give up on Keynesian economics that has driven the country into the ditch every time it’s been tried? I doubt it.


3 posted on 08/31/2010 5:37:00 AM PDT by kittymyrib
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To: Kaslin
Now President Obama appears to have "lost" New York Times liberal economic columnist Paul Krugman

He doesn't care!
People are judging this guy based on how a normal politician behaves. They usually want to get reelected.
Obarry wants to destroy America.
I think at this point he knows he won't be reelected, so he's just out to do as much damage as he can before he's shown the door.

4 posted on 08/31/2010 5:37:06 AM PDT by grobdriver (Proud Member, Party Of No! No Socialism - No Fascism - Nobama - No Way!)
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To: Kaslin

The kenyan imposter has not lost Krugman. Krugman is simply trying to give his little Marxist buddy a hand. Progressives don’t ever give in. Nor do they change their stripes.


5 posted on 08/31/2010 5:39:54 AM PDT by albie
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To: Kaslin

If you’ve lost Krugman, you’ve lost the Upper East Side.

How droll.


6 posted on 08/31/2010 5:40:08 AM PDT by glorgau
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To: Kaslin
"Krugman asked an essential question: "Why are people who know better sugarcoating economic reality? The answer, I'm sorry to say, is that it's all about evading responsibility."

Gee, I don't know Krugman, maybe because you spineless, terrorist loving pieces of @#$% have carried his water for so long?

In addition to evading responsibility of course. That goes without saying.

7 posted on 08/31/2010 5:42:58 AM PDT by libs_kma (DEMOCRATS, HOT TAR AND FEATHERS. SOME ASSEMBLY REQUIRED.)
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To: Kaslin
Add to the problem of a sluggish economy the fact that the government swilled Dom Pérignon in an effort to stimulate it and here is what you are left with...

The recession was bad enough before Obama's retrograde policies...but now we not only have a bad economy, we have a mountain of NEW debt.

8 posted on 08/31/2010 5:43:33 AM PDT by SonOfDarkSkies
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To: Kaslin

If this is a recovery what the hell does a relapse feel like?


9 posted on 08/31/2010 5:44:20 AM PDT by muir_redwoods (Obama. Chauncey Gardiner without the homburg.)
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To: albie
"The kenyan imposter has not lost Krugman. Krugman is simply trying to give his little Marxist buddy a hand. Progressives don’t ever give in. Nor do they change their stripes."

I agree. If anything, Krugman is seeing the writing on the wall and willing Obama to make some progress here, so he can then continue destroying the country the way Krugman wants him to.

10 posted on 08/31/2010 5:45:48 AM PDT by libs_kma (DEMOCRATS, HOT TAR AND FEATHERS. SOME ASSEMBLY REQUIRED.)
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To: SonOfDarkSkies

11 posted on 08/31/2010 5:46:16 AM PDT by South40 ("Islam has a long tradition of tolerance." ~Hussein Obama, June 4, 2009, Cairo, Egypt)
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To: Kaslin
Obama has not lost Krugman. In that article referred to above Krugman continually bashes Republicans, while offering suggestions to Obama. For example, Krugman states:

So officials could, with considerable justification, place the onus for the non-recovery on Republican obstructionism. But they’ve chosen, instead, to draw smiley faces on a grim picture, convincing nobody. And the likely result in November — big gains for the obstructionists — will paralyze policy for years to come.

Krugman is just playing "Papa" with Obama and admonishing him a bit. But he still loves the kid.

12 posted on 08/31/2010 5:48:16 AM PDT by CitizenM ("Do you miss me yet?" Yes, George, we do.)
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To: albie

Hey, the baby boomer libs have portfolios too.


13 posted on 08/31/2010 5:53:56 AM PDT by jersey117
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To: Kaslin

Krugman, like every NYT’s Ivy Leaguer, won’t let objective data get in the way of their beliefs. You are dealing with a religion, not a political party. Do you think Crusaders had any problems with looting, raping, and murdering when they were told they doing so with Christ’s blessing? Its the same thing here.


14 posted on 08/31/2010 5:55:43 AM PDT by equalitybeforethelaw
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To: Kaslin

But Krugman’s complaints are that Obama hasn’t taxed and spent ENOUGH! He hasn’t lost Krugman, because Krugman wants him to do exactly what he’s been doing but X 10.


15 posted on 08/31/2010 5:56:30 AM PDT by circlecity
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To: Kaslin

As best I recall Krugman’s prior stances he has been 100% consistent. Spend more. For months he has exasperatedly been sniping at Obama’s failure of nerve and leadership in refusing to follow Krugman’s advice to go all in.


16 posted on 08/31/2010 5:58:19 AM PDT by tlb
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To: South40
What's funny about the Obama administration is that it has proved to America that a regular guy or gal on the street in small town USA is smarter than a whole bunch of Harvard trained economists.

Case in point...I was chatting with a retired high school teacher last week and I asked him what he thought would be the most effective stimulus program for this economy. He said any money spent by the government should be invested in the most productive elements of the economy. When asked how that might be accomplished he said (to paraphrase) "I guess you could just refund capital to those who paid the most taxes."

17 posted on 08/31/2010 6:02:00 AM PDT by SonOfDarkSkies
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To: albie
Krugman’s criticism of the stimulus is that it was too small.
18 posted on 08/31/2010 6:02:42 AM PDT by shove_it (have a nice day)
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To: Kaslin

if Obama’s primary concern at this point is what Krugman thinks, we are in far, far worse trouble than even I think we are


19 posted on 08/31/2010 6:06:25 AM PDT by Buckeye McFrog
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To: grobdriver

By Gud! Watson, I think you’ve got it...


20 posted on 08/31/2010 6:09:04 AM PDT by dps.inspect (uttox)
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To: SonOfDarkSkies

“I guess you could just refund capital to those who paid the most taxes.”
///////////////////////////////////////////////////////////
Amazing, he had to be retired, no one young enough to be still teaching is that clear headed. That is by definition investing the money in the most productive elements of the economy. Some economists understand that very well but Obama will pay them no attention.


21 posted on 08/31/2010 6:13:11 AM PDT by RipSawyer (Trying to reason with a leftist is like trying to catch sunshine in a fish net at midnight.)
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To: kittymyrib
Will the Leftists finally give up on Keynesian economics that has driven the country into the ditch every time it’s been tried? I doubt it.

Keynesian economics is successful with the elites for the same reason that Freudianism is. It has three characteristics that are attractive to them:

  1. Couched in arcane technical-sounding jargon.
  2. Supports conclusions that are counterintuitive.
  3. Supports behavior patterns that are desirable to them, provides theoretical and moral justification for behavior they enjoy on an individual level.
  4. Has the effect of breaking down the fabric of society, which fabric they believe to be a stultifying straitjacket that prevents society from "progressing" and, coincidentally, prevents them, on an individual level, from engaging in preferred behavior patterns.
Freudianism liberates people from moral and logical strictures on the limits of sexual behavior, and Keynesianism liberates them from moral and logical strictures on financial and fiscal behavior. This makes it a big winner among the pseudo-intellectual crowd, the elites who increasingly dominate and control our society.
22 posted on 08/31/2010 6:17:10 AM PDT by Steely Tom (Obama goes on long after the thrill of Obama is gone)
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To: Kaslin

“If I’ve lost Krugman, I’ve lost nut job America.”


23 posted on 08/31/2010 6:18:08 AM PDT by WilliamofCarmichael (If modern America's Man on Horseback is out there, Get on the damn horse already!)
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To: Kaslin
Cronkite only had "credibility" because he was one of the very few games in town when it came to "news." There was no one out there to refute or correct Cronkite when he either got it wrong or when he decided to inject his own personal spin on a story.

Krugman, while he probably revels in being compared to Cronkite, has never worked in an environment where he has that sort of monopoly over an audience. Just about everything Krugman writes is easily refuted to the point where none of us, and hopefully increasing numbers of his readers, take him seriously at all.

24 posted on 08/31/2010 6:24:18 AM PDT by pnh102 (Regarding liberalism, always attribute to malice what you think can be explained by stupidity. - Me)
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To: Kaslin
All this presupposes that Obama is an American.

There is absolutely no evidence to support that supposition.

25 posted on 08/31/2010 6:50:46 AM PDT by E. Pluribus Unum ("The only stable state is one in which all men are equal before the law." -- Aristotle)
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To: Kaslin

[has bowed to the reality that they are not working]

...now all he has to do is come to the reality that it wasn’t supposed to work but to destroy the economy then he will have true awakening.


26 posted on 08/31/2010 7:14:27 AM PDT by RetSignman (Tea Parties ..."We have seen the Patriots and they are us")
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To: SonOfDarkSkies

Superb graphic— especially since we are supposed to believe the spending in yellow is the primary reason the economy tanked.


27 posted on 08/31/2010 7:20:48 AM PDT by Vigilanteman (Obama: Fake black man. Fake Messiah. Fake American. How many fakes can you fit in one Zer0?)
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To: grobdriver

I agree with you completely!


28 posted on 08/31/2010 8:02:00 AM PDT by Mister Da (The mark of a wise man is not what he knows, but what he knows he doesn't know!)
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To: SonOfDarkSkies
I just returned from the Oregon Republican state convention. I was nominated as a delegate to the state party after I won my first election as a Precinct committee person. There were many of us "newbies" there. Our every two year meeting is to edit our platform, what we can hand to candidates as a guideline.

Boy, did we get conservative with it this year. It was exciting for me probably boring for most folks but a very important process to take our party back to the simplicity of our fore fathers, LESS government.

I am mad as hell and I am doing something about it. As precinct representative, I have to campaign, knock on doors, phone calls, get yard and car signs up. No more bitching from me, I am doing and everyone I meet I talk about the principles of the constitution, mostly to young people and they are being persuaded.

I was talking to some middle twenties guys doing some work for us and told them how the democrates in this state wanted to put meters on our wells. We live in very rural Oregon. I told them in Real Estate school I learned that when you buy property you own from the center of the earth to the universe that is why minerals under the ground belong to the title bearer. So when democrats come after our property rights we have to stop them.

They were so riled up after that, I was able to get in some more digs against the dems. I found if you make your argument specific about certain rights and my interest is property, people can see it and are persuaded.

29 posted on 08/31/2010 8:15:24 AM PDT by thirst4truth (The left elected a mouth that is unattached to an eye, brain or muscle.)
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To: Kaslin

Both Johnson and Obastard kept doing the same thing and expecting different results. And just like Johnson had no idea how to win the war, Obastard has no idea how to turn the economy around.


30 posted on 08/31/2010 8:47:29 AM PDT by Blood of Tyrants (Islam is the religion of Satan and Mohammed was his minion.)
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To: Steely Tom

“Freudianism liberates people from moral and logical strictures...”

“Tavistock’s pioneer work in behavioral science along Freudian lines of “controlling” humans established it as the world center of foundation ideology.”

scary stuff: Tavistock

www.tavinstitute.org


31 posted on 08/31/2010 10:30:11 AM PDT by Mortrey (Impeach President Soros)
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To: Mortrey

Thanks Mortrey.


32 posted on 08/31/2010 11:03:47 AM PDT by Steely Tom (Obama goes on long after the thrill of Obama is gone)
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bumping charts


33 posted on 09/10/2010 4:59:03 AM PDT by StAnDeliver (/)
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To: South40


http://www.freerepublic.com/focus/f-bloggers/2451468/posts?q=1&;page=136#136
34 posted on 09/10/2010 5:15:44 AM PDT by csmusaret (The Obama/Pelosi/Reid Cartel has saddled each of my grandchildren with a $44,000 debt.)
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To: csmusaret

http://www.freerepublic.com/focus/f-bloggers/2451468/posts?q=1&;page=136#136


35 posted on 09/10/2010 5:16:35 AM PDT by csmusaret (The Obama/Pelosi/Reid Cartel has saddled each of my grandchildren with a $44,000 debt.)
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To: csmusaret

Further demonstrative evidence of what an epic failure this presiident is. Thanks!


36 posted on 09/10/2010 1:14:31 PM PDT by South40 ("Islam has a long tradition of tolerance." ~Hussein Obama, June 4, 2009, Cairo, Egypt)
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