The KrugMan Speaks

Outlook: a bit less than bleak.

Paul Krugman on the new CBO report on our Debt-Crisis-That-Isn't-Really-Real:

Why, it’s almost as if the real goal was to make sure that benefits get cut even if the fiscal outlook improves.

Meanwhile, our policy discourse has been dominated for years by what turns out to be a false alarm. To the millions of Americans who are out of work and may never get another job thanks to premature fiscal austerity, the VSPs would like to say, “oopsies!”

So let's review.  Here's a partial list of what the Serious Thinkers in the GOP have been telling us for what's getting to be a very long time:

• Tax revenues will go up if we cut taxes.
• Spending will go up if we cut back on spending.
• Getting a stimulus effect of $.60 per dollar in tax cuts is better than getting a stimulus effect of $1.10 per dollar of Federal spending.
• Cutting future Soc Sec benefits now is how we prevent cutting Soc Sec benefits in the future.

Hit the fuckers again, Dr K.  Lookin' good.