Mitt Romney says the president is spending too much. Paul Krugman, winner of the Nobel Prize in Economics and Princeton University Economics Professor, Author (“End This Depression Now”), joins Ed Schultz to explain why the government isn't spending enough.
Paul Krugman says spending is the way to recovery
-
Fri May 18, 2012 1:18 PM EDT
Leave a Comment:
Absolutely = Raise the debt ceiling = TAX The Wealthy And Corporations - Cut OFF Their LoopHoles !!! = Can You Buy A Junk Car And Turn It Into A Fine Ride - If You Do NOT Put Money Into It ????? Can You ??? Explain That To Me = IF You Can !!! This Country IS A Broke-Down Wreck = Thanks Gwb/CheNey/Banks - GREEDY - Etc. !!!! After All - Doesn't Everything Cost Money ??? Hmmmm ????
The Cyclical Wheel Is NOT Spinning Properly - The Inner-Tube Is Being Pinched - It IS Out Of BALANCE - And It Is Creating A Bubble In ONE Area - And It WILL POP !!! It Needs To BE Equalized Or Regulated ALL The Way Around In Order For It To Have BALANCE !!!!!!
This is what Obama has been saying for years, and all the rep rant has tamped it down. But thank God, many of us keep on spending and keeping people in jobs. The guy who fixes your furnace and your pipes. The guy who repairs your cars. The service people behind the counter, we are the ones who keep all these people working.
Paul Krugman has been my favourite economist for a very long time, and I have read his books. If only he were in charge rather than Paul Ryan our economy would be well on the way to recovery.
For a long time, listening to the BBC, I have listened to how the UK, Greece, Spain, and other countries have shown these austerity methods to be a brutal failure. Yet this is exactly the road Romney and Ryan want to take us down and which the economic terrorists in the house (the 87 T-party freshman, for example) have been forcing us to take.
These unyielding Republicans have fallen in line with the most extreme and non-productive economic theories anyone ever heard of. I am quite tempted to say that since Ryan is not a stupid man, nor is John Boehner, that this is and has been a Machiavellian way of keeping the economy down in order to ruin the president.
I am not into conspiracy theories either, as this is exactly what Mitch McConnell has stated as being their goal: Keep him a one term president.
Well, they've been pretty successful, but the people are tired of being taken down with him and it is time to fight back.
Call your reps. and tell them their game playing is over. They are playing with our lives now. It is time to get the economy back on track. We need to change things now because if Romney wins in November, he will double down on these very same disastrous policies.
That is not a conspiracy theory its a fact.
Whomitmay, By chance, I just heard Krugman on Martinn Bashir's show on MSNBC, and he came right out and agreed with what I posted on #2!
He even said the congress (GOP) is holding the president and the economy HOSTAGE in an effort to get what they want. Now if that does not dissuade Republicans from supporting them, nothing will. Somehow they have managed to hoodwink half the country. It is astonishing.
It is quite a feat to get people to vote against their own best interests, yet the GOP's propaganda machine has done just that!
Wake up folks!
It isn't as 1/2 the country is either stupid or racist or both and the GOP is good at kissing up to bigotry.
whomitmay, The GOP, and people like the unholy Karl Rove, have done their homework. They know what buttons to push, what dog whistles to blow, and who is or is not educated in this country.
They have had a lot of years to perfect their propaganda.
Mitt Romney is not now, nor was he ever, a job creator. At Bain Capital he ended jobs. In Mass, as governor, he was 47th in the nation in job creation for his state. In addition, he has no understanding of foreign policy or economics. If that isn't enough, he is a war mongerer and wants to bloat the already bloated defence budget in order to build things which the US no longer USES! (How much are the lobbyists paying him for that?).
Ask yourself why the big money is and has been grooming a corporate raider for the presidency.
Oh, yeah, like MacDonalds, they're doin' it all for YOU! Tax cuts and more tax cuts for millionaires and billionaires, all for you! Break the backs of the elderly, the handicapped, the poor, the college students, the working poor and the middle class. All for You!
What a crock of crap.
Well of course one thing about conservatives is it takes generations before they accept change which is rather amusing as the world they live in is one that is in a constant ever changing motion.
You know Mittwit has accounts in the Caymans, Bermuda, Switzerland, Germany Luxembourg, Ireland and Australia. He does that so if he gets in as Prez and tanks the economy right to the ground, he thinks he'll still have his money safe in foreign banks. I wonder, if we implode, just how safe will his money be? I hope we never get the chance to find out.
MJB, Mitt's money will be very safe. Count on it. Our economy could tank and he wouldn't feel it.
Krugman doesn't know his azz from a hole in the ground.
Who pays for the spending??? the tax payers that's who..
That theory did not work during the 30's why would it work today??
FDR spent like a drunk sailor on shore leave, by 1936 the depression now had it's own recession that lasted till 1938 and the start of WWII.
Government spending is the problem, not the answer.
Yeah - So Did Gwb/CheNey = Spend Like Drunken Sailors --- AND = AND !!!?????? AND ????? Gee Whiz - I Wonder WHY We ARE Here In This Situation = TODAY -- AND ????
No sorry you know about as much about economics as that long dead insane doddering old fool Reagan knew, nothing. But then as we can see it is clear that you have no ideal what a recession is or what cause a recession. Here is a hint when people stop buying stuff that don't need and start buying things they do need the economy falls into a recession. What you say works doesn't because the whole Reagan economy model that has been used by every republican president since Reagan demands credit buying, when the credit lines dry up the economy goes into recession followed by high unemployment and stock market crashes.
No I do not wonder why the economy melted down, as I know for fact what the root cause was.
And what on earth does all the ====????? --- mean?? you just started to learn how to type?
Nope it means get back to work. BTW when unemployment is high that means less people to tax.
Es-Stupida - Does That Bother You - ???????????????????????????????????????????!!!! Does That Bother You More Than The Condition Of OUR Country = REALLY ????????????????????????????????????
whomitmay, The T-party representatives are out in droves. Their trolls trying hard to make sense. They are getting desperate.
Not working. They make as much sense as their mentors: NONE.
Well still waiting for one of you to show the numbres & facts I have posted to be wrong.
All you people can do is talk a load of bull$hit.
Look Into Yur Mirror - GOMER !!!!! OH - Wait - If Ya Do That Ya Continue To See The World In Reverse !!!
Look into a what?
Good grief!
YUP - Thats What I Thaught !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
MD/MI, Ignore stupid. Don't fall for it and get in trouble.
India = Thank-You - Yep You Are Correct !!!!! He IS Es-Stupida = FUR SURE !!!!! Again - Thank You For The Backing !!!! I Need To Watch My Back - Thanx For The Heads Up And Support !!!! I Need To Continue To Fly And NOT Be Caged Or Grounded !!!!!
Ok, stop bouncing me..... the bubble gum again. Stupidita gets a penny every time we answer her blog.....It isn't worth the talon clippings, MD. She selected th name. Just type it in full each time you post. It serves the purpose.
McCain sounds so hallow.....in 2008......and guess what?
Now willard is making the same kind of noise.
Stupida, I think a prize winning economist has a little more knowledge about economic the you.
Hich-up
Stupida, I think a prize winning economist has a little more knowledge about economic the you. How did we get out of the depression? How much did it cost? Who paid the bill? And we are still waiting for you to prove anything you said as right. You keep posting the same crap with nothing but right wing $hit to back it up. I keep asking righties questions but to everybody's surprise I get no answers. Just more crap. Why not try to get off your right wing band wagon and learn a few things about real life?
TM = Others = ThankYou - For Support - I Do Get OUT -O-Control-Dont I !!!!!! Gotta Keep The Blood-Pressure DOWN !!!!! AS Long As I Keep It Within The Vine-Line - I'll Be OK !!!!!!
Stupidita, funny you should mention the "recession within the Depression." That's the period when FDR made what economists across the spectrum call "the mistake of 1937" -- when FDR was convinced the economy was recovering enough that he had to turn his attention to reducing the deficit, and he pulled way back on spending. The result was exactly as you identify, a recession within the (until then recovering) Depression. Thanks for being so well-informed!
Stupida, I sincerely hope you are willing to bet your bank account on that.
I guess you think you know more than the finest economic minds in the world.
You don't.
They have lied to you. That is the GOP's modus operandi. Look around you, is their way working? Yes, their way...they've given Obama no chance to do it HIS way.
MD/MI,
Love ya, baby! xxoo Don't want to lose you!
You know how to click on the i button; if enough of us do so, it is bye, bye troll.
Aw Thank Ya - I Dont Want Lose Anyone Either -- Thanx !!!! You Are A Sweety - Love You ALL Too !!! == Yes - I Like That [!] Button !!!!
stupid,
how much does fox news pay you to come here and show off your ignorance?
if nothing else, you are good for a laugh or two.
ha ha ha ha ha.
Koch brothers pay 5 cents a word.
They don't believe in the minimum wage law. LOL They probably take advantage of illegals. They have no shame.
LOL......................
No one gets paid to blog you people..........
Would help if some of you actually lived in this country.
Paul Krugman is correct about what needs to be done to lift us out of the "lesser depression" as he puts it. We need a massive investment in state of the art bullet trains and for state of the art infrastructure. Our roads, bridges, sewer and water mains, ports, and railways are in a shambles. The roughly $750 billion stimulus bill President Obama signed worked but it was not nearly large enough when one considers the state of our economy in 2009. Krugman was right in saying we should have spent about $1.3 to $1.5 trillion on a stimulus bill. So what really should have been done in 2009, if we had a rational political system, is that we simply borrowed the $2.2 trillion that we need for infrastructure repair and maintenance in America. The Society of American Civil Engineers says we need at least $2.2 trillion for infrastructure maintenance.
Investing in your country is "good debt" unlike urinating money away on imported oil or foreign wars for oil. The wars in Iraq and Afghanistan will ultimately cost $4 trillion long term. We could have rebuilt our infrastructure, built wind farms and solar thermal plants connected with a smart grid and built new schools all across America for $4 trillion. Conservatives are really ignorant about knowing the difference between investing in one's country for the future or urinating money away on yesterday's energy sources which is what oil is, yesterday's obsolete energy source. Americans use twice as much energy per capita as the average German. I guess this makes the average German twice as smart as an average American conservative. You hear educated German conservatives talking about solar panels, mass transit, bullet trains, wind farms, and 50 MPG turbo-diesel cars. You hear American conservatives talk about "drill baby drill" like zombies walking around in a cemetery for the intellectually deceased.
The concentration of wealth in fewer hands is almost unprecedented in our country's history. The richest one fifth of American households own a whopping 85% of the net worth and 93% of the financial wealth in America as of 2007. This leaves the bottom eighty percent of households, those who earn a living on hourly wages and salaries, with just 15% of the total net worth and a mere 7% of the financial wealth in America. Check out Professor G. William Domhoff's "Who Rules America, Wealth Income, and Power" at the Department of Sociology, University of California at Santa Cruz for more details. This source is a good reference for understanding wealth concentration in America. One of the reasons that the 1929 Depression was so severe was the level of wealth concentration in just a few percentage of the richest households at the top of the income ladder. We are seeing the same kinds of patterns for wealth concentration in just a few percent at the top in the 21st century. When the middle class didn't have any money after the stock market crash in 1929, we ended up with the Great Depression. In 2008, after the real estate bust compounded by the highly leveraged and bundled securities known as mortgage backed securities collapsed, we ended up with the Great Recession. In both cases the middle class ran out of sources of credit and savings causing very severe decline in demand for goods and services in the Main Street economy. 70% of the commercial economy is made by demand by consumers, mostly in the middle and working classes in America.
The demand shortage is the reason we are facing the slow pattern of recovery. President Obama's policies may have been all that he could get through Congress at the time. The truth is however, that the stimulus was too small to really get our economy on track creating jobs again. The best move forward is to rebuild all of the $2.2 trillion worth of infrastructure in America. We need bullet trains like the French TGV in the northeast corridor of the U.S. We need solar plants in the Southwest and wind farms offshore along the coasts, the Great Lakes and on the Great Plains states, all connected with a smart grid that can move the power to where it is needed efficiently. Electric cars, and deep offshore wind farms are what we need not more offshore drilling. I wonder when the GOP will decide to start pulling their heads out of their buttocks and start living in the 21st century?
Rex in MN, #4, What an excellent post. Thanks.
so exactly who will build and pay for this infrastructure= if you suggest the federal government- that assumes that the federal government can effectively administer dollars and make rational spending decisions- history would suggest otherwise in terms of high cost to administer a dollar- bad decisions like the loan guarantees in solar etc (this bad decisions etc are not exclusively dem or republican) it is in inherent in a bureaucracy structure for which there is simply no accountblity for bad decisions- I don't disagree about investment in the future- but if you are going to let the feds do it- then I do like the odds of sucess-
Bushisms......
http://www.youtube.com/watch?NR=1&v=AIcmucXJrgs&feature=endscreen
Here is some real news, and facts from Fox noise.......
http://www.youtube.com/watch?feature=endscreen&NR=1&v=3KNpn-XGM04
Larry 74 = Hey There - Hope You Are Doing Well = Brah !!
Back to ya MD. Missed you while you were on "vacation". We both need to watch the blood pressure with the trolls. Take care.
Thank You Brah = Hey Friend Request ?? I Have Been Trying - But - I Am Not Doing Sumtin Correct !!??? I'LL Try Again !!!
India - Thank You And Welcome = My Friend !!!!! Love You Too !!!! You Are Terrific - As Many On This Blog Are !!!!
Hey, Md....these new trolls are of little value on info......their twigs are bare and they can't post any sources, because you know re-regs. So even talking with them is only excercise. Just like willard, they have nothing to offer. Not worth the pain.
TM = YUP - You Got That RITE - Sweety !!!!!
MD, just sent you one. Thanks.
Larry, Md/MI, Are we having a "cum by ah" moment here? Shall I make some smores and put another log on the bonfire? LOL
Friends make life worthwhile.
Larry = Thank You And Welcome Brah !!!!!!
We both need to watch the blood pressure
Of course you do. The future for liberals doesn't look very bright. Thanks to Romney/Ryan it looks as though everyone will be carrying their own weight or just hang it up.
Thanks to Mittens and Ryan it looks like Obama four more years. The reason we know this is because Mittens and the GOP refuse to talk about the economy instead they bring out the tea baggers greatest hits of 2008.
A new poll in Wisconsin has Scott Walker holding a growing lead over Milwaukee Mayor Tom Barrett in the upcoming recall election.
The Republican governor holds a six-point lead over Democrat Barrett, 50 to 44 percent, among likely voters surveyed by Marquette Law School, May 9-12. The poll's margin of error for likely voters was plus or minus 4.1 percentage points.
The results represent a five-point increase for Walker over Barrett since Marquette's previous poll in late April.
The findings released this week by Marquette mirror those released by other polling outlets.
Public Policy Polling recently conducted a survey on the recall race for liberal site Daily Kos which showed Walker leading Barrett 49 to 45 percent. That poll's margin of error was plus or minus 3.4 percentage points.
And how many people in Wisconsin were polled why 600. We saw that jerry don't get excited, we don't want you to have an accident in your shorts.
Isn't nice that stupida knows why the economy crashed and knows more than Paul Krugman on how to fix it? Too bad she know neither.
Stupida, you keep asking for "proof". When you going to do your own homework????????????????????????????????????????????????????????????????????????
And just for jerry, my blood pressure is low. I don't worry about too many things. You're the last thing I would worry about. But I do have a question. Are you ever going to contribute anything but insults? OH, forgot, need to have some intelligence first.
Worrying about jerry amounts to worrying about a butt boil but unlike jerry a butt boil will go away.
Whomit, Tonight is one of those nights I won't be on the vine. (Wed. and Fri.) but, if I am not too tired when I get home, I'll catch all of you later. Feed the trolls ipecac. (I hope I spelled that right) LOL Maybe that will get rid of the toxic tea they keep drinking.
Larry
I tried a couple of years ago to have an intelligent non hostile conversation with you and your ilk. But that's impossible. Liberals see all their benefits and entitlements going down the drain every time a Conservative shows up, and for good reason. We intend to crush any and all socialist/progressive/communist/marxist movement and return this country to a capitalist powerhouse that it once was. Get it????
Yeah the problem is they also told jerry he was full of BS. Guess what jerry you belong to a party that is getting fewer and fewer members because they keep purging members.
whom
I belong to the party that keeps getting richer and richer and it's driving you libs crazy.
No you belong to the party where only 1% get richer, the rest of the GOP base that the GOP make fun of while attending cocktail parties in the 1%, they call you the rubes.
Oppps left out you tea bagging rubes only have delusions of wealth thinking any day now you will be getting that golden handout Reagan promised you 34 years ago. Hey here is an ideal take your kids to Reagans tomb and sacrifice them on it then maybe Reagan will answer your prayers.
I would like to keep spending but I am broke disabled and unemployed.
Sorry but your tea bagging republican friends say you need to pay more then David Koch.
Well have you ever seen a turnip lined up to give blood? Cant spend money you dont have.
Sorry but that isn't what the tea bagging republicans are saying. What your brothers in arms are saying is people like you are why the government spends to much. Just because you say you have no more money to give your tea bagging brothers know for a fact that you are living off the fat of the land which breaks the economy because you want to sit on your couch watching Jerry Springer on your 64" flat screen TV.
You completly missed the point. When there is no money to spend you cant spend you way out. Hint our country is trilions of dollars in debt, hince we have no money to spend.
Right wingers have infuriated two groups they need to win: independent women and Hispanics. Independent women do not like the GOP's stands on birth control and family planning programs. Cuts in Planned Parenthood make these groups of voters angry. The GOP has pushed about 1200 bills on abortion restrictions all around the country. Most women in America do not want to return back to the days of the coat hangar abortion. The vaginal ultrasound bill for women wanting an abortion is the height of idiocy by the GOP. Younger women under 30 find these kinds of policies abhorrent.
Plus the GOP has been against the Dream Act that was held up in the Senate by a filibuster of GOP senators. The Dream Act designed to give children of immigrants, who have attended American schools all of their life, a fast track to American citizenship. These kids can join the military or go to college. These kids have virtually no ties to their parents home country. So sending them back home is an absurd and unconscionable act. The Dream Act is the first step in comprehensive immigration reform that would have been passed by now, except for GOP obstructionism.
The "do nothing" GOP House and the filibusters in the Senate mean that much of the nation's business is not getting accomplished. The Republicans have become dominated by a bunch of right winged radicals who believe in tearing America down rather than building it up. The GOP believes in an intolerant radical ideology of hatred towards women's reproductive health and hatred towards minorities. Hispanics are the fastest growing voting block in America. The GOP can not win the White House without getting pretty close to 40% of the Hispanic vote and a decent proportion of the independent women's vote. Large numbers Hispanics and independent women will not voting for Mitt Romney.
The GOP has swung so far to the right that they are stuck in the ideological ditch rather than staying in the center where you have to stay if you want to govern America. The conservatives are in total denial about how far they have swung to the right in recent years. Radical intolerant ideology that is contrary to basic American culture means that the conservatives are having one last kamikaze mission before their implosion as a party this November.
Rex
From the Washington Examiner
5/15/12
"President Obama’s claim that the GOP is mounting a war on women has proven to be a failure. A month into his assault on the Republicans and Mitt Romney, the new CBS-New York Times poll shows that the GOP presidential candidate now leads among women--and men.
Since April, women have gone from strongly backing Obama to endorsing Romney. In April, Obama held a 49 percent to 43 percent lead among women. That has now flipped to 46 percent backing Romney with 44 percent for Obama, an 8-point switch."
http://washingtonexaminer.com/politics/washington-secrets/2012/05/shock-poll-romney-now-leads-among-women/613771
Eugeniepatstheduck: I had plenty of links with articles to source what I said but these did not appear when I posted the article. Oh well I will figure this out next time.
Please spare me the polls this far out from the election. We have seen countless polls showing President Obama with double digit leads amongst independent women and Hispanics. I went to college for three years and most of the young women are furious at conservative right wingers for restricting family planning and birth control programs. The young women I talked to have nothing but total contempt for the GOP. These women also followed politics very closely. You will not be fooling them with any Koch brothers sponsored Super-PAC ads put on television. These women know the facts and they are angry about the 1200 abortion restrictions that the have been put in place around the country. Remember Rush Limbaugh calling the young law student testifying in front of the Congressional committee a "slut" and a "prostitute" for advocating that the Affordable Care Act force insurance companies to pay for birth control? The point is this the GOP has lost an entire generation of young educated women by their right winged ideological attacks on Planned Parenthood, abortion rights, and reproductive rights for women. Many of the women in college that I talked to will be more apt to give Mitt Romney and the GOP the middle finger. Many may even wish them both an early demise from this earth. These are young women from middle class families with blue collar backgrounds or public sector jobs, like teachers. Revolutionaries these young women are not.
The bottom line is that the GOP is a hated party amongst young college educated women. I ran into this over and over again when talking to young women or overhearing their conversations in class in college. The Republican party has swung so far to the right that you conservatives are all in denial about how bad you have screwed up talking about abortion instead of job creation. Speaker Boehner has not passed the American Jobs Act that had provisions that would have created hundreds of thousands of jobs building infrastructure. Speaker Boehner should have passed this bill but don't worry Speaker Pelosi will pass it in 2013.
Republican women will probably support Romney. If you ask conservative women in a conservative newspaper they will support Romney. Republican women are essentially brain washed sheep that are easily herded by their corporatist masters. Independent thinking is not something Republican women are known for but mindless conformity is. Republican women believe in a paternal system. Whatever the male husband, male father, or male boss says goes for conservative women.
The GOP has a major war on women treating them no better than door mats. A women's right to an abortion is under attack across the country. GOP governors are pushing the antiabortion laws at a rate unseen in years. The GOP is also against the Affordable Care Act that would provide free checkups for women's health and reproductive health to be paid for by insurance companies. The GOP is calling for the repeal of the Affordable Care Act that would give 30 million uninsured Americans more access to the health care systems. Many of these 30 million people are women with children. So the GOP is not on anti-woman it is anti-family too. Giving tax cuts to the top one percent is what the Ryan and Romney budget is all about while screwing middle class people out of needed government programs that would benefit them.
The GOP is waging a war on women across America treating them like doormats. In an age where America needs all the brain power to compete in a hyper-competitive global economy against the BRIC's, these GOP proposals are counterproductive towards that national aim. The GOP wants to bring women back to the bad old days of the coat hangar abortion somewhere back into the 1950's or even the 19th century. In a hyper-competitive multi-polar world where America will have to fight for every job and new company and resource these GOP/conservative attitudes are not only parochial and backward, they are suicidal for our country's competitiveness.
Well done now jerry will either run away and hide or come back and call you a poo poo head or some other type of personal attack.
Most young women are concerned about the financial future of this country. That's why they are leaning right this time around. They know that the spending MUST stop. Abortion is taking a back seat.
btw All that "war on women" crap was devised right in the Oval Office. Obama will do anything to keep his record out of the limelight.
Rex in MN- Republican woman are brain washed sheep -aside from the fact that "brain washed sheep" makes no sense is not a scientific possibility- what an arrogant sexist comment to make- you may disagree with someone's position- but to make all "guilty" by association e.g. if they are a republican- again strikes me- and I do not know you so this may not be an appropriate comment- but extremely arrogant-
assuming all you say is true- then why did the Republicans take control of the house and have gains in the senate in 2010- well of course they were voted in by brain washed sheep-
You think what??? republican woman are what???
The liberals have a real problem, the economy is in the ditch, unemployment over 8% for the past 3 years. The national debt.
Over 40 million people on food stamps, over 12 million people out of work.
And all you can talk about is gay marriage, birth control pills, and now brain washed woman.