40 Economists Say The GOP Has Abandoned Economic Reality

[cal04]

http://thinkprogress.org/economy/2012/07/25/584561/40-economists-republicans-reality/

A survey of forty economists from across the ideological and partisan spectrum has concluded that on some of its most cherished issues, the Republican Party has simply taken leave of economic reality. For instance, economists Betsey Stevenson and Justin Wolfers noted that one of the results from the survey — run by the University of Chicago’s Booth School of Business, which is hardly known for a left-wing slant — is an overwhelming agreement that the 2009 Recovery Act (i.e. the stimulus) brought down unemployment. But GOP leaders have spent years roundly denouncing the stimulus as a failure:




And while there was a bit more disagreement as to whether the benefits of the stimulus bill outweighed its costs, the bulk of the economists surveyed came down in the “Agree” or “Strongly Agree” camps. Other points from the survey’s respondents worth noting:

The nation needs new revenues. Contrary to nearly every Republican, the economists overwhelmingly agreed that the federal budget deficit cannot and should not be closed without increased tax revenue.

more at link

[Scootaloo]

1. I'm not sure how to take this...

I mean modern economics is basically astrology for math geeks, and isn't very reality-based itself. So, if the swamis of statistics are going "these guys have abandoned reality," does that mean that the Republicans are embracing actual, realistic economics?



Nah, it just means they're so fucking nuts that the assholes who invented suplly-side are going "dude... just... what?"

[hughee99]

2. They're saying that the Repukes are just making things up and guessing

in a different way than economists are making things up and guessing.

[siligut]

3. I think economists study history, look at trends and numerous economic indicators

I usually agree with your posts, but I think economists do have a grasp on the whole picture, as difficult as that is. Republicans do their best to muddle things and try to skew that picture to their advantage.

[leftstreet]

4. That's why they were voted out of office in 2006 and 2008

Their party was dead. Toast.

So why are they back?

[randome]

6. The corpse is not decomposing fast enough, that's all.

[secondwind]

5. I shared this on another page, and was told it was not true. Anyone have any comments

on this?

[meow2u3]

7. The GOP has abandoned reality. Period.

Economic reality isn't the only reality the GOP is divorced from.