Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Paul Krugman on Ryan's Budget Plan : Ludicrous and Cruel
New York Times ^ | 04/08/2011 | Paul Krugman

Posted on 04/08/2011 6:41:13 AM PDT by SeekAndFind

Many commentators swooned earlier this week after House Republicans, led by the Budget Committee chairman, Paul Ryan, unveiled their budget proposals. They lavished praise on Mr. Ryan, asserting that his plan set a new standard of fiscal seriousness.

Well, they should have waited until people who know how to read budget numbers had a chance to study the proposal. For the G.O.P. plan turns out not to be serious at all. Instead, it’s simultaneously ridiculous and heartless.

How ridiculous is it? Let me count the ways — or rather a few of the ways, because there are more howlers in the plan than I can cover in one column.

First, Republicans have once again gone all in for voodoo economics — the claim, refuted by experience, that tax cuts pay for themselves.

Specifically, the Ryan proposal trumpets the results of an economic projection from the Heritage Foundation, which claims that the plan’s tax cuts would set off a gigantic boom. Indeed, the foundation initially predicted that the G.O.P. plan would bring the unemployment rate down to 2.8 percent — a number we haven’t achieved since the Korean War. After widespread jeering, the unemployment projection vanished from the Heritage Foundation’s Web site, but voodoo still permeates the rest of the analysis.

In particular, the original voodoo proposition — the claim that lower taxes mean higher revenue — is still very much there. The Heritage Foundation projection has large tax cuts actually increasing revenue by almost $600 billion over the next 10 years.

A more sober assessment from the nonpartisan Congressional Budget Office tells a different story. It finds that a large part of the supposed savings from spending cuts would go, not to reduce the deficit, but to pay for tax cuts.

(Excerpt) Read more at nytimes.com ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: budget; deficit; paulkrugman; paulryan

1 posted on 04/08/2011 6:41:19 AM PDT by SeekAndFind
[ Post Reply | Private Reply | View Replies]

To: SeekAndFind

Shut up, Krugman, you ignoramus.


2 posted on 04/08/2011 6:43:30 AM PDT by American Quilter (DEFUND OBAMACARE.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

The Whigs are going after some of the Communists Slush Fund Spending. From now on I am referring to Republicans as Whigs and Democrats as Communists. I think the names more accurate.


3 posted on 04/08/2011 6:43:48 AM PDT by screaminsunshine (Obama Sucks)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

So he is arguing that 10%GDP deficits are rational and kind.


4 posted on 04/08/2011 6:44:49 AM PDT by DManA
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

Frau Pelosi’s Death Panels would be first in the cruel category, IMO.


5 posted on 04/08/2011 6:45:07 AM PDT by ExTexasRedhead
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind
"In particular, the original voodoo proposition — the claim that lower taxes mean higher revenue — is still very much there. The Heritage Foundation projection has large tax cuts actually increasing revenue by almost $600 billion over the next 10 years."

Dear Pauly, the 2003 tax cuts increased revenue from $1.7 trillion in 2003 to $2.4 trillion by 2006. Don't let facts get in your way, jackwagon!!!

6 posted on 04/08/2011 6:45:40 AM PDT by avacado
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind
...a large part of the supposed savings from spending cuts would go, not to reduce the deficit, but to pay for tax cuts...

That's rich.
7 posted on 04/08/2011 6:48:38 AM PDT by ComputerGuy (HM2/USN M/3/3 Marines RVN 66-67)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

Tax cuts when combined with spending cuts produce economic booms.

Tax and spend versus tax cut and spend over a long enough period are equally as damaging.


8 posted on 04/08/2011 6:49:02 AM PDT by misterrob (Thug Life....now showing at a White House near you....)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

Yo, Krugman. When was the last time you were right about anythiing?


9 posted on 04/08/2011 6:51:17 AM PDT by CPOSharky (The only thing straight, white, Christian males get is the blame for everything.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind
When my charge card statement landed in my mail box like a wrecking ball from outer space once a month, I went on an personal and very rigid austerity program.

It was ludicrous and cruel too. Ludicrous, that I let my self get into that position... and cruel, because my money was funny for a long time.

I paid it down then I paid it OFF.

See.... that's how you do it. Bite the bullet...like a grown up!!

10 posted on 04/08/2011 6:51:23 AM PDT by SMARTY (Conforming to non-conformity is conforming just the same.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind
So Krugmans plan is continue with lavish benefits to everyone, enlarge the Nanny state, expand government beyond anything the world has seen and their plan to finance it is have those under 250k pay nothing and over 250k pay for everything. This guy is deluded and dangerous. The howling from the left will be deafening the next few weeks after the shutdown and the MSM will aid them. But in the end like the disaster for them in Wisconsin, they will, realize the Tea Party is America now, well enough of it, and you have an incompentant 50% African , 100% legal Alien as President not BillJeff, 4 buck a gallon gas, a moribund economy, and real unemployment at 20%. America is in no mood to listen to the whining of their kid's 2nd grade teacher or a national parks worker about how they should not have to pay 25 bucks more a month for their healthcare insurance. The same script from 1995 won't work again.
11 posted on 04/08/2011 6:52:32 AM PDT by pburgh01
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind
Republicans have once again gone all in for voodoo economics — the claim, refuted by experience, that tax cuts pay for themselves.
Krugman makes the claim, refuted by experience, that if a 1% tax is good, a 100% tax is a hundred times as good.

This absurdity is based on the fatuous assumption that the demand for the approval of Paul Krugman - which he would call "the legitimacy of income" - is perfectly inelastic.

Prohibition worked so well . . .


12 posted on 04/08/2011 6:52:37 AM PDT by conservatism_IS_compassion (DRAFT PALIN)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

The Democrats have the team of Evil and Ludicris.

13 posted on 04/08/2011 6:55:57 AM PDT by ClearCase_guy
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

Paul and other libs will soon be suffering from a spending binge hangover.


14 posted on 04/08/2011 7:07:40 AM PDT by Huskrrrr
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

Well, they should have waited until people who know how to read budget numbers had a chance to study the proposal
...........................................................

You man like people who know how to read should have studied Obamacare before it was passed?

Sorry Krugman. We have to pass it to see what’s in it.


15 posted on 04/08/2011 7:40:00 AM PDT by Venturer
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind
It's so much easier to move Paul to Europe than to bring Europe here. Why doesn't he realize that???
16 posted on 04/08/2011 8:18:17 AM PDT by Niteranger68 (Jared Lee Loughner - Disciple of Michael Moore)
[ Post Reply | Private Reply | To 1 | View Replies]

To: All
Cruel is a do-nothing Democrat congress refusing to pass a budget.

Cruel is the Democrat governments' amassed budget deficits.

Cruel is trying to deficit spend our way back to prosperity.

Cruel is refusing to pay the military to protect funds for an abortion factory.

17 posted on 04/08/2011 10:57:03 AM PDT by newzjunkey (OBAMA & his DEMOCRAT allies are starving children & killing the elderly.)
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson