Paul Krugman: 'It's Terribly Unfair Obama's Being Judged on the Failure of the Economy'
Readers are strongly advised to remove food, fluids, and flammables from proximity to their computers prior to reading any further. You've been warned!
New York Times columnist Paul Krugman said on ABC's This Week Sunday, "It's terribly unfair that [President Obama is] being judged on the failure of the economy to respond to policies that had been largely dictated by a hostile Congress" (video follows with transcript and commentary):
PAUL KRUGMAN, NEW YORK TIMES: Can I just -- these are -- these are -- we're talking as if $1 billion was a lot of money, and in $15 trillion economy is not. Solyndra was a mistake as part of a large program, which has been -- by and large had a pretty good track record. Of course you're going to find a mistake. I think, to be fair, that's probably true in Massachusetts, as well.
But this is -- this is ridiculous, that we are taking these tiny, tiny missteps which happen in any large organizations, including corporations, including Bain -- Bain Capital had losers, too, right, even from the point of view of its investors? So this is ridiculous.
And the fact of the matter is, this president has not managed to get very much of what he wanted done. He -- it's terribly unfair that he's being judged on the failure of the economy to respond to policies that had been largely dictated by a hostile Congress.
I guess the Nobel laureate in economics was out of the country when Obama controlled the House of Representatives and enjoyed a filibuster-proof majority in the Senate, something that according to Time magazine's Karen Tumulty hadn't really happened since the Great Depression:
You have to go all the way back to 1937 to find the last American President who enjoyed what was, in practice, a filibuster-proof majority in the Senate, according to Senate Associate Historian Donald Ritchie. That was when Franklin D. Roosevelt, having just won what was then the biggest re-election victory in history, permanently alienated Southern Democrats by trying to “pack” the Supreme Court with the addition of two more justices. [...]
In Jimmy Carter’s first term, for instance, there were more than 60 Democrats in the Senate. However, conservatives such as James Allen of Alabama often voted more to the right than their Republican colleagues, while there were liberal Republicans such as New York’s Jacob Javits who rarely sided with their own party. [...]
With Arlen Specter’s switch (and assuming, as Joe notes below, that Al Franken ever gets sworn in), Barack Obama has the Magic 60 Votes — and an opportunity that his predecessors would greatly have envied.
So Obama from the position of political power had in the first two years of his presidency "an opportunity that his predecessors would greatly have envied."
But in Krugman's view, "it's terribly unfair that he's being judged on the failure of the economy to respond to policies that had been largely dictated by a hostile Congress."
Is it possible to be more wrong about something and still be considered a "journalist" worthy of coveted invitations on the nation's top political talk shows?
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Comments
Even taking into account...
Submitted by zenman1661 on Sun, 06/03/2012 - 3:31pm.
how uninformed, inept and partisan most journalists are these days. Calling Krugman a journalist is even an insult to them.
Agreed
Submitted by Galvanic on Mon, 06/04/2012 - 10:33am.
I even hesitate to call him an economist, but since he won a Nobel Prize in the field, I guess I have to relent.
From what we've read and heard from Krugman in the past, what Krugman is really saying is that (a) the stimulus was not big enough to be effective, and (b) Obamacare should be a single-payer system.
As for the "largely hostile Congress," both of these fiascos were spawned by the Democratic Congress and signed into law by Obama. The Republican resurgence in 2010 was due in no small part to the negative impact of these two legislative disasters.
Crediting Obama for the failure is appropriate. After all, since 2009, he's blamed Bush-43 for all the economic woes, and he's claimed credit for "creating" 4.5 million jobs -- a figure no one can confirm -- so why no hold him accountable for the dying recovery?
Obama said two years ago that if he didn't turn the economy around, he'd be a one-term President. Let's hope he is correct..
Journalist??
Submitted by Bucknutpete on Mon, 06/04/2012 - 1:28pm.
There must not be ANY qualification to be a journalist, at least not there. Can you say Dumb and Dumber??
Yeah, space-cadet, it's just
Submitted by killa37 on Sun, 06/03/2012 - 3:37pm.
Yeah, space-cadet, it's just about as unfair as you being called an 'economist'!!!
He's probably still stinging from being lambasted by some English member of Parliament about his stupid 'economics'.
Calling Dr. Freud.
Submitted by Herbster on Sun, 06/03/2012 - 3:37pm.
Maybe a little jolt of "Economic electroshock" combined with a large injection facts would help. Krugman is definitely certifiable. Hi Ho, Hi Ho, it's off to the home we go.......
NOT a Freudian - but Krugman is beyond electroshock.
Submitted by drsamherman on Sun, 06/03/2012 - 4:52pm.
Anybody that deluded would not respond to ECT.
After that painfully delusional and silly whining, he needs a healthy dose of antipsychotic (forget the Risperdal--I would go directly to Clozaril). Either that or a referral to a good colorectal surgeon to take care of his rectocranial impaction.
I think his
Submitted by killa37 on Sun, 06/03/2012 - 5:00pm.
I think his cranial-rectalitis has become so constipated that it has petrified.
What's the matter Krugman,
Submitted by rbosque on Sun, 06/03/2012 - 3:39pm.
What's the matter Krugman, Obama's only following your Keynsian recommendations. What? Your economic theories aren't working? Awww what a shame ass-wipe. How about giving Hayek, Adam Smith, or Friedman a try?
Dumb-ass.
I agree Stupid is what Stupid
Submitted by thealsoundguy on Mon, 06/04/2012 - 1:50pm.
I agree Stupid is what Stupid does!!!
Solyndra
Submitted by LionKing on Sun, 06/03/2012 - 3:41pm.
Solyndra was hardly the only mistake.
The stimulus was an EPIC FAIL. Jobs are not being created nor saved.
Oh, it's the 'failure of the
Submitted by ant on Sun, 06/03/2012 - 3:50pm.
Oh, it's the 'failure of the economy to respond'...well, that does it!...Come election time I won't be voting for 'the economy' no more!...damn failure. Also not gonna vote for Europe, earthquakes, or ATM's either...causing all these problems.
The economy didn't respond ...
Submitted by almostacowboy on Mon, 06/04/2012 - 8:33am.
....to Obamugabe's economic plan because it's racist! :-)
Sounds like an SNL news skit.
Submitted by mattm on Sun, 06/03/2012 - 3:52pm.
Sounds like an SNL news skit.
Can you imagine...
Submitted by NJRightWinger12 on Sun, 06/03/2012 - 4:07pm.
Having this yutz as your professor? The only question I have is-why do all these shows put this idiotic jerk on in the first place?
Three words
Submitted by Model850 on Sun, 06/03/2012 - 5:25pm.
"Why do all these shows put this idiotic jerk on in the first place?"
Short answer:
Obama. Water. Carrier.
Obama's Two Themes
Submitted by Kingfish17 on Sun, 06/03/2012 - 4:27pm.
Obama and his surrogates, no matter how many words they use and no matter how they try to phrase their argument, only have two points that they are pushing:
If that's all he has to offer, it's pretty pathetic.
"You can’t go take a trip to Las Vegas...on the taxpayer’s dime." Barack Obama
Krugman is a moron
Submitted by merly1 on Sun, 06/03/2012 - 4:34pm.
That's as pithy as I can be..................
Paul 'Potemkin' Krugman
Submitted by stratman on Sun, 06/03/2012 - 4:47pm.
A modern day Walter Duranty.
Enough idiocy for an entire village.
Baseball economics
Submitted by CO2Maker on Sun, 06/03/2012 - 5:24pm.
In the 6th inning, back in 2008, when Obama was called in from the bullpen, the bases were loaded and nobody out. He walked the first batter, scoring a run. When he faced the second batter, he kept trying to pick off the runner on first that the runner on third was able to steal home and the guy on second moved up one. He kept trying to push his Affordable Pick-off Plan to get the runner, but didn't pay attention to the hitter, who hit a double and drove in the runner on first. The next batter hit a long single to the wall in right, scoring two runs. Obama got out of the inning after Bush's three runners scored plus another four that Obama put on. But he said he wasn't responsible for them because if Bush hadn't made such a mess, he would have had an easier time and gotten the team out without scoring.
The next inning, Obama gave up another five runs while hitting three batters with inside rhetorical heat that didn't break. By the 9th inning, Obama had allowed more runs that any previous pitcher and the crowd was starting to get very unhappy. The mainstream PA announcers all kept telling them not to act like racists and that the 15 run deficit wasn't that bad. Besides, Obama's pitching advisor, Axelgrease, had persuaded the stadium owners to redistribute the good seats to the fans in the stands, which made them feel better.
Nice job.
Submitted by bkeyser on Sun, 06/03/2012 - 5:29pm.
.
Lemme see here, CO2 - and he
Submitted by killa37 on Sun, 06/03/2012 - 8:26pm.
Lemme see here, CO2 - and he was wearing #42, and the sportswriters have just revised history so that Boy Baraka Hussein Obama has done more for 'blacks' in baseball than the great, and classy, Jackie Robinson???
I'd say if Jackie Robinson met Boy Baraka, he'd probably school his rookie ass in so many different ways that Obama's head would be spinnin' (Obamaspeak) like a damn top on his pencil neck, with his ears looking like airplane wings.
I thought GHWB wore 41
Submitted by CO2Maker on Sun, 06/03/2012 - 10:53pm.
Dubya wore 43, which means Clinton wore 42. PBO wears 44, which, btw, was Hammerin' Hank's number.
Well, CO2, in a way you're
Submitted by killa37 on Sun, 06/03/2012 - 11:40pm.
Well, CO2, in a way you're right - Willaim Robinson Clinton WAS the first 'black' president, so it's only fair that he wears #42.
And I think Hammerin' Hank was a class act too - so I"m sure he'd also tear Boy Baraka a new rear end as to how to act like a man - which is something that Boy Barry has NEVER figured out how to do.
Moron. Putz. Sissy.
Submitted by texastommy on Sun, 06/03/2012 - 5:24pm.
Moron. Putz. Sissy.
Well, you know? He might be right.
Submitted by bkeyser on Sun, 06/03/2012 - 5:40pm.
After all, it's not like Obama had any indication that the economy was in free-fall when he took office, or that Bush's Recession wouldn't kick in until the beginning of 2011. And we all know that the Stimulus was actually Bush's spending and John Boehner and Congressional Republicans were responsible for the execution of that spending. Same for Omnibus 2009. Frankly, given that Bush administered all those DoE Loans -after he left office, mind you- I tend to agree that it's entirely unfair to lay any sort of responsibility on Obama for the poor recovery.
how uninformed, inept and
Submitted by Pinetree3 on Sun, 06/03/2012 - 5:41pm.
how uninformed, inept and partisan most journalists are these days. Calling Krugman a journalist is even an insult to them.
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Come on, now. They know very well donks controlled both chambers of Congress and that they gave obama EVERYTHING he wanted. Krugman knows it too. He is just flat out lying.
According to Krugman, the
Submitted by robert108 on Sun, 06/03/2012 - 5:58pm.
According to Krugman, the most powerful man in the world is helpless because one house of Congress was elected by the people in 2010 to stop his insane policies? Isn't that how it's supposed to work in a representative republic?
Krudman's itching for a job
Submitted by celator on Sun, 06/03/2012 - 6:13pm.
Krugman's itching for a job in the White House, that's what's going on with this guy.
Someobodies gotta unclog
Submitted by hbnolikeee on Sun, 06/03/2012 - 9:33pm.
the bowl after ribs night...
Well, just because the House
Submitted by motherbelt on Sun, 06/03/2012 - 6:34pm.
Well, just because the House and Senate were both controlled by Democrats doesn't mean they weren't hostile!!
Paul Schmuckman
Submitted by Cool Arrow on Sun, 06/03/2012 - 6:39pm.
Hey Paul, It's not as if this President didn't ask (dare I say beg) for the job in which he now fails so miserably?
You're just a pie-in-the-sky socialist proven wrong on every facet of the plan for which you had a Nobel Prize stuffed in your resume.
Get lost Groundhog!
Slick Willie got CREDIT for the economy...
Submitted by kch50428 on Sun, 06/03/2012 - 7:25pm.
When Republicans were running congress and balanced budgets and had the debt in better control than it is now.
HA HA HA HA HA HA HA HA
Submitted by liberalsarefunny on Sun, 06/03/2012 - 7:40pm.
"It's Terribly Unfair Obama's Being Judged on the Failure of the Economy'...
Liberals really are funny--you gotta admit...
It's only fair when o'bama
Submitted by ThisnThat on Sun, 06/03/2012 - 7:59pm.
It's only fair when o'bama fully blames Bush for everything, and then declares Romney unqualified to become President. The media laps that up and re-enforces the lie. But it's UNFAIR to blame poor o'bama for anything, right? Only in Wonderland does this exist.
__________
“Didn't win the Medal of Honor? Didn't even serve? Then lie about it. We'll support you." — 9th Circuit Court
Mr. Krugman on what do we judge Obama?
Submitted by ohio granny on Sun, 06/03/2012 - 8:21pm.
Mr. Krugman on what do we judge him?
On his lies
How the health care was passed
How many times he has played golf
All his vacations
How he has bowed to leaders of Muslim countries
Abandoned and undercut our allies
Supported and defended our enemies
Attackson private persons who support republicans
All the stimulus money that went to his cronies
All thetaxpayer money wasted on green energy
All the Czars he has appointed
All the regulations he has created
How he has played the race and class card over and over
How he has never stopped campaigning
And yes how his policies have made the economic situation much worse
I could go on and on but I think this is enough for today.
So Mr. Krugman on what should we judge Obama ?
Don't forget
Submitted by ant on Sun, 06/03/2012 - 9:56pm.
He, personally, repelled from a helicopter and killed Bin Laden with his bare hands.
In context, the word is
Submitted by HockeyKid on Mon, 06/04/2012 - 6:47am.
In context, the word is "rappelled", but considering the subject, I like your version better.
"Beauty is only skin deep, but liberal's to the bone." - me
Feelin' Sorry For "O."
Submitted by Samaritan01 on Sun, 06/03/2012 - 11:05pm.
Well said maam, well said!!
Kruggie's next book:
Submitted by HockeyKid on Mon, 06/04/2012 - 6:48am.
"Economics in Wonderland"
"Beauty is only skin deep, but liberal's to the bone." - me
Notice the company that Krugman keeps
Submitted by ChrisNH on Mon, 06/04/2012 - 9:20am.
Haughty Leftists like Algore and Krugman (et al) orbit in their own, tight circle of Leftists. Careful to never be in a situation where their 'world views' can be challenged. You never see these two come outside of their caves, unless the gathering comprises like-minded Leftists who nod in 'faculty-lounge' agreement.
It is a seething cauldron of rage and hate within the walls of the NYT these days. Starting tomorrow (Wisconsin Tuesday) they will be 'Going Postal' in there. And hand-grenades lobbed from the comfort of their haughty offices in the form of 'opinion columns' will not change the outcome in November. Even Molly Dowd sees this.
Krugman-Fail....
Submitted by adamsmith on Mon, 06/04/2012 - 10:00am.
I wouldn't let this Sister Boy balance my checkbook. He's a water carrying idiot who will go down with his Keynesian ship before admitting that he's wrong and really has no clue what he is talking about....
Ok, Paul. We''ll do it your way.
Submitted by CobraMan on Mon, 06/04/2012 - 11:53am.
"And the fact of the matter is, this president has not managed to get very much of what he wanted done. He -- it's terribly unfair that he's being judged on the failure of the economy to respond to policies that had been largely dictated by a hostile Congress.
Oh, Paul, we start judging him on all of his failures, not just the economy. As you, yourself, admit, he's failed at most of what he's tried, at "what he wanted to get done." Would that make you fell better?
The Citizens of each State shall be entitled to all Privileges and Immunities of Citizens in the several States. The US Constitution
Unless you're a fetus. The US Supreme Court
Or Anwar al-Awlaki.
I don't understand...
Submitted by cmujelly on Mon, 06/04/2012 - 12:46pm.
Four years ago we were told (by Obama) that he had the power to lower the seas. This year we are being told that he can't even fix the economy.
I don't understand...
Submitted by cmujelly on Mon, 06/04/2012 - 12:46pm.
Four years ago we were told (by Obama) that he had the power to lower the seas. This year we are being told that he can't even fix the economy.
Reason dumb people shouldn't vote
Submitted by Bucknutpete on Mon, 06/04/2012 - 1:25pm.
You are right. I think we should consider going back to the founders' ideas. Landowners only, should vote. Something. People should at least be required to know their xxS from a hole in the ground. eg. If the boat is going to go over the waterfall....do you vote to get off of the boat?? or do you vote to continue down the river?? Should this be a qualifier to vote??
Reason dumb people shouldn't vote
Submitted by Bucknutpete on Mon, 06/04/2012 - 1:25pm.
You are right. I think we should consider going back to the founders' ideas. Landowners only, should vote. Something. People should at least be required to know their xxS from a hole in the ground. eg. If the boat is going to go over the waterfall....do you vote to get off of the boat?? or do you vote to continue down the river?? Should this be a qualifier to vote??
It's terrible
Submitted by JIL on Mon, 06/04/2012 - 3:19pm.
News flash: Paul Krugman reports excessive amount of nicotine gum stuck to the underside of the Resolute Desk.
Ass-whoopin'
Submitted by JPTSO3 on Mon, 06/11/2012 - 11:12am.
Is it just me, or does anyone else look at Krugman and see an obnoxious kid who has defamed someone -- he's cornered - he's scared to his marrow, about to wet his pants... and in his shaky voice, tries to talk his way out of an ass-whoopin'...
Hostile Congress?
Submitted by CDMcHenryJr on Mon, 06/04/2012 - 3:29pm.
Didn't the Dems control both houses of Congress for 2 of the 3 years?
Obama had every opportunity to pass anything he wanted, but what he wanted was to destroy, not rebuild, the economy. Of course he should be judged on his performance.
not sure if Paul is really stupid, or just thinks we are....
Krank-man
Submitted by Nelbert on Mon, 06/04/2012 - 4:02pm.
Krugman fail #1: a half billion dollars is not chump change ... especially when it's taxpayer money.
Krugman fail #2: while the true total of money wasted on failed green energy businesses may remain a mystery, there has been over $5 billion lost to 13 of 20 companies.
Krugman fail #3: "a hostile congress" - when Obama's party controlled both houses of Congress for the first two years of his term, when even now Republicans only have a majority in the House, and when both houses (and both parties) unanimously rejected Obama's budget.
Strike 3 - why does anyone pay any attention to this moron?
Krugman
Submitted by classicfit on Mon, 06/04/2012 - 4:42pm.
Paul Krugman is what a stupid person thinks a smart person sounds like.
Krugman is a liar and a
Submitted by MikeB on Mon, 06/04/2012 - 9:00pm.
Krugman is a liar and a hypocrite! This economy is not the result of a hostile Congress ... at least not hostile to Obama. The Democrats gained control of congress in the 2006 midterm election ... not hostile to Obama. For the first 2 years of Ear Leader's reign, the Democrats had a filibuster proof majority in the Senate, and a solid majority in the House... again, not hostile to Obama. Or, at least they were from the same party. While this economy can't be solely blamed on Obama, he and his party are very much to blame for the biggest part of its failure.
As for the hypocrisy Krugman is spouting, did he not blame this economy on G W? If Obama can't control it to fix it, what makes him think W had enough control of it to break it? Over taxation of business, over regulation of business, hardcore fornication with the unions, all by the Democrat Party are very strong factors in our economic mess. It was also interference by powerful Democrats in Congress that prevented a close look at Fannie Mae and Freddie Mac. If those two entities had been reined in, perhaps the housing market debacle would not have been nearly as bad as it was. Also, if lending institutions had not been FORCED by the Community Reinvestment Act to make home mortgage loans to people who were not credit worthy, the housing market debacle would probably not have occurred at all.
Krugman needs to return his Nobel prize in economics, and sue whatever University that gavehim his degree, because he knows next to nothing about matters economic.
Why Keep Him Around
Submitted by Netstatter on Tue, 06/05/2012 - 7:38am.
Why keep Obama (or any president) in office if they are inept and can't get things done? In the beginning of this economic crisis, for two whole years, Obama had a rubber-stamp congress. Yet he still couldn't fix things.
Obama is inept.