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Krugman: What Has the Wonks Worried
In reference to Sanders' people's response to an open letter from 4 (four!) former Chairs of the Council of Economic Advisers for Presidents Barack Obama and Bill Clinton(posted below), Krugman writes:
...The point is not that all of this is impossible, but it’s very unlikely — and these are numbers we would describe as deep voodoo if they came from a tax-cutting Republican.
Sanders needs to disassociate himself from this kind of fantasy economics right now. If his campaign responds instead by lashing out — well, a campaign that treats Alan Krueger, Christy Romer, and Laura Tyson as right-wing enemies is well on its way to making Donald Trump president.
http://krugman.blogs.nytimes.com/2016/02/17/what-has-the-wonks-worried/?module=BlogPost-Title&version=Blog%20Main&contentCollection=Opinion&action=Click&pgtype=Blogs®ion=Body&_r=0
Sanders needs to disassociate himself from this kind of fantasy economics right now. If his campaign responds instead by lashing out — well, a campaign that treats Alan Krueger, Christy Romer, and Laura Tyson as right-wing enemies is well on its way to making Donald Trump president.
http://krugman.blogs.nytimes.com/2016/02/17/what-has-the-wonks-worried/?module=BlogPost-Title&version=Blog%20Main&contentCollection=Opinion&action=Click&pgtype=Blogs®ion=Body&_r=0
Now, that's the guy with the Nobel prize in his field of expertise talking. What I'm hearing there is the deep oo-ooo-ga of a warning siren. We're watching a bunch of kids and angry people being sold a nebulous CIVICS FREE, romanticized version of a revolution while the experts, the ones who have fostered all and whatever progressive achievements are possible in such a deeply divided pluralistic society, issue warning after warning. That's the establishment talking -our Democratic establishment- and we'd best listen.
An Open Letter from Past CEA Chairs to Senator Sanders and Professor Gerald Friedman
Posted on February 17, 2016 by lettertosanders
Dear Senator Sanders and Professor Gerald Friedman,
We are former Chairs of the Council of Economic Advisers for Presidents Barack Obama and Bill Clinton. For many years, we have worked to make the Democratic Party the party of evidence-based economic policy. When Republicans have proposed large tax cuts for the wealthy and asserted that those tax cuts would pay for themselves, for example, we have shown that the economic facts do not support these fantastical claims. We have applied the same rigor to proposals by Democrats, and worked to ensure that forecasts of the effects of proposed economic policies, from investment in infrastructure, to education and training, to health care reforms, are grounded in economic evidence. Largely as a result of efforts like these, the Democratic party has rightfully earned a reputation for responsibly estimating the effects of economic policies.
We are concerned to see the Sanders campaign citing extreme claims by Gerald Friedman about the effect of Senator Sanders’s economic plan—claims that cannot be supported by the economic evidence. Friedman asserts that your plan will have huge beneficial impacts on growth rates, income and employment that exceed even the most grandiose predictions by Republicans about the impact of their tax cut proposals.
As much as we wish it were so, no credible economic research supports economic impacts of these magnitudes. Making such promises runs against our party’s best traditions of evidence-based policy making and undermines our reputation as the party of responsible arithmetic. These claims undermine the credibility of the progressive economic agenda and make it that much more difficult to challenge the unrealistic claims made by Republican candidates.
Sincerely,
Alan Krueger, Princeton University
Chair, Council of Economic Advisers, 2011-2013
Austan Goolsbee, University of Chicago Booth School
Chair, Council of Economic Advisers, 2010-2011
Christina Romer, University of California at Berkeley
Chair, Council of Economic Advisers, 2009-2010
Laura D’Andrea Tyson, University of California at Berkeley Haas School of Business
Chair, Council of Economic Advisers, 1993-1995
https://lettertosanders.wordpress.com/2016/02/17/open-letter-to-senator-sanders-and-professor-gerald-friedman-from-past-cea-chairs/
Posted on February 17, 2016 by lettertosanders
Dear Senator Sanders and Professor Gerald Friedman,
We are former Chairs of the Council of Economic Advisers for Presidents Barack Obama and Bill Clinton. For many years, we have worked to make the Democratic Party the party of evidence-based economic policy. When Republicans have proposed large tax cuts for the wealthy and asserted that those tax cuts would pay for themselves, for example, we have shown that the economic facts do not support these fantastical claims. We have applied the same rigor to proposals by Democrats, and worked to ensure that forecasts of the effects of proposed economic policies, from investment in infrastructure, to education and training, to health care reforms, are grounded in economic evidence. Largely as a result of efforts like these, the Democratic party has rightfully earned a reputation for responsibly estimating the effects of economic policies.
We are concerned to see the Sanders campaign citing extreme claims by Gerald Friedman about the effect of Senator Sanders’s economic plan—claims that cannot be supported by the economic evidence. Friedman asserts that your plan will have huge beneficial impacts on growth rates, income and employment that exceed even the most grandiose predictions by Republicans about the impact of their tax cut proposals.
As much as we wish it were so, no credible economic research supports economic impacts of these magnitudes. Making such promises runs against our party’s best traditions of evidence-based policy making and undermines our reputation as the party of responsible arithmetic. These claims undermine the credibility of the progressive economic agenda and make it that much more difficult to challenge the unrealistic claims made by Republican candidates.
Sincerely,
Alan Krueger, Princeton University
Chair, Council of Economic Advisers, 2011-2013
Austan Goolsbee, University of Chicago Booth School
Chair, Council of Economic Advisers, 2010-2011
Christina Romer, University of California at Berkeley
Chair, Council of Economic Advisers, 2009-2010
Laura D’Andrea Tyson, University of California at Berkeley Haas School of Business
Chair, Council of Economic Advisers, 1993-1995
https://lettertosanders.wordpress.com/2016/02/17/open-letter-to-senator-sanders-and-professor-gerald-friedman-from-past-cea-chairs/
12 replies
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= new reply since forum marked as read
are those?.. who cares. Just make up stuff as you go along because you know hundreds will agree with you and the end justifies the means, right?
Ha! Too bad there's consequences for making shit up.. it comes back to bite you when you least expect it.
LOL@the flames it would inspire. 
