"The Austerity Agenda" by Paul Krugman at the NY Times

[applegrove]

The Austerity Agenda

by Paul Krugman at the NY Times

http://www.nytimes.com/2012/06/01/opinion/krugman-the-austerity-agenda.html?_r=1&smid=tw-NytimesKrugman&seid=auto

"SNIP...............................................................

Well, that’s where it gets interesting. For when you push “austerians” on the badness of their metaphor, they almost always retreat to assertions along the lines of: “But it’s essential that we shrink the size of the state.”

Now, these assertions often go along with claims that the economic crisis itself demonstrates the need to shrink government. But that’s manifestly not true. Look at the countries in Europe that have weathered the storm best, and near the top of the list you’ll find big-government nations like Sweden and Austria.

And if you look, on the other hand, at the nations conservatives admired before the crisis, you’ll find George Osborne, Britain’s chancellor of the Exchequer and the architect of the country’s current economic policy, describing Ireland as “a shining example of the art of the possible.” Meanwhile, the Cato Institute was praising Iceland’s low taxes and hoping that other industrial nations “will learn from Iceland’s success,”

So the austerity drive in Britain isn’t really about debt and deficits at all; it’s about using deficit panic as an excuse to dismantle social programs. And this is, of course, exactly the same thing that has been happening in America.

.............................................................SNIP"

[Jakes Progress]

1. You don't expect intellectual honesty from conservatives, do you?

I mean, after all, they vote for republicans. Honesty, thought, logic. Not their forte.

[MannyGoldstein]

2. Krugman is unpractical

He should stop whining. Realistically, if Democrats don't slash government and Social Security, then they won't be re-elected. Then we'll get people in office who slash government and Social Security, and then Krugman will see how bad it will be!

[CTyankee]

3. Right on, Paul! I cheered when I saw this column today!

He points out that European countries with big governments such as Austria and Sweden are doing just fine (Sweden has a budget surplus!).

I had just had to turn off Morning Joe because I was so disgusted with its lineup of guests and Ed Rendell going on and on, enjoying his "centrist" label and not saying smack. Just earning a paycheck.

So now I am trying Current more and more. I hope it gets more popular.