Hilarious! Krugman in his never ending wail against the imaginary “austerity” measures being taken makes some patently absurd statements as “proofs” against commonly held thoughts regarding debt and deficits.
He offers these arguments…..
Let’s start with the common claim that stimulus programs never go away.
In the United States, government spending programs designed to boost the economy are in fact rare — F.D.R.’s New Deal and President Obama’s much smaller Recovery Act are the only big examples. And neither program became permanent — in fact, both were scaled back much too soon.
Well, yes and no. The programs ended, but the spending never did. I can’t imagine someone who purports to be knowledgeable about such issues never bothering to look at the facts.
In the years of 2008 and 2009 the US government embarked on unparalleled bailouts and stimulus programs. By the end of 2009 we had increased…
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