On Monday’s edition of The Colbert Report, New York Times columnist Paul Krugman pitched his case for a much more massive "stimulus" of government spending. He said "Things are getting worse more slowly. We were losing, you know, we were losing 700,000 jobs a month. We’re probably now at this point going to be losing 300,000 a jobs a month." When Colbert challenged him to say something more cheerful, he unloaded on the stupid and crazy people of the Bush administration:
KRUGMAN: Let me say something positive. We do actually have people in the White House who understand this stuff. I think they’re not forceful enough, but these are not stupid people. These are not crazy people.
COLBERT: You’re saying that they understand what they did wrong, then.
KRUGMAN: They understand what the problems of the economy are. You know, as I say, they’re not stupid, they’re not crazy, which is a big improvement on previous management. [Whoops and applause]
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Colbert joked that he agreed, that a lot of the economic blame can be placed on the Clinton administration. Krugman boasted that his view – "backed by numbers, unfortunately" – is that we’re pussyfooting on government spending in an enormous crisis. Later, Colbert sounded almost like a real conservative when he pressed Krugman on how many jobs he’s created:
COLBERT: How many employees do you, Paul Krugman have?
KRUGMAN: Um, I have –
COLBERT: Have you ever created one job?
KRUGMAN: Um, I have –
COLBERT: Have you ever run one business?
KRUGMAN: No.
COLBERT: So much as a hot dog stand?
KRUGMAN: No. In fact, I have not.
COLBERT: So you are a theoretician.
KRUGMAN: This is true.
COLBERT: So you are like a theologian, okay?
KRUGMAN: Right.
COLBERT: A theologian can write about martyrdom, but only the martyr goes into the fire. True?
KRUGMAN: Yes.
COLBERT: So shouldn't we let the free market cure these things? Because they’ve created jobs.
KRUGMAN: Um, you know, business got us into this, right?
COLBERT: Then they can get us out. They know the way. [Laughter] They go back up that slippery slope. That's where we came down.
KRUGMAN: There's a line actually that some of us use. You know, you do need people who know where the bodies are buried and maybe the best people are the people who put the bodies there. [Audience moans.] But I think not quite in this case.
COLBERT: That's the cheeriest thing you've said so far.
Krugman began his theorizing with the notion that massive government intervention is like administering antibiotics to the ill:
I will say, look, the big problem is, we all came into this, including people in the administration as well, saying this is the crisis of our lives, the crisis of several generations. You gotta hit it with overwhelming force. You’ve gotta take a massive dose of antibiotics to cure this thing and what they actually gave was enough to help, but not enough to cure it. And there were reasons for that it's not easy. They didn't have a clear sixty senators to vote for stimulus and all of that. But still, the solution has not been up in scale to the size of problem. That’s the thing that’s got me worried.
—Tim Graham is Director of Media Analysis at the Media Research Center.
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Uh, Krugmam.. a lot of things got us into this!
July 15, 2009 - 16:41 ET by Gary HallKRUGMAN: Um, you know, business got us into this, right?
Yea, like this kind of business -- "big government business."
Good thing we have all those Obama people who know
July 15, 2009 - 16:55 ET by lsudolemitewhat they're doing. Otherwise I'd be alarmed at how a stimulus that promised to cap unemployment at just north of 8% has resulted in knocking at the door of 10%. That's OK, we'll just fudge the definition of "jobs saved" again to make it sound like they knew what they were doing. The guy has a Nobel Prize after all, he must know what he's talking about.
True
July 15, 2009 - 23:06 ET by jondelwicheThe Bushies were too niave to realize all the Clintonistas had migrated to Fannie and Freddie, and the debacle was building to its 2008 mortgage KABOOM!
Now those ex-Fannie people advise Obama, so they know the problems!
Claims to have the numbers
July 15, 2009 - 16:51 ET by snaggletoothieClaims to have the numbers to prove what he says. Apparently he's too shy and easy going to actually whip them out in public. Pity the way this great intellect keeps his light hidden under a basket.
So, let me get this
July 15, 2009 - 16:58 ET by Richard RomanoSo, let me get this straight, huge unsustainable deficits, destructive cap-and-trade policies, and
nationalized health-care are enlightened?
Down is up, left is right, death is life, war is peace.
Krugman is straight out of Orwell.
Good thing we have all those Obama people who know
July 15, 2009 - 16:56 ET by lsudolemitewhat they're doing. Otherwise I'd be alarmed at how a stimulus that
promised to cap unemployment at just north of 8% has resulted in
knocking at the door of 10%. That's OK, we'll just fudge the
definition of "jobs saved" again to make it sound like they knew what
they were doing. The guy has a Nobel Prize after all, he must know
what he's talking about.
it's like handing a drowning man an anchor.
July 15, 2009 - 19:02 ET by puredmashiewww.heritage.org has a cute little stat: that new trillion plus health care plan weighs in at more than $1.25B per page. is it too much to ask these morons to at least read it this time?
swing hard in case you hit it.
Evil
July 15, 2009 - 16:58 ET by nkviking75Krugman: You know, as I say, they’re [the Obama Administration] not stupid, they’re not crazy, which is a big improvement on previous management.
I guess that leaves "evil". After the successes of Ronald Reagan and even George W. Bush in the economy, no well meaning advisor should suggest the impending train wreck we're heading for.
When you put the clowns in charge, don't be surprised when a circus breaks out.
Krug is a real
July 15, 2009 - 16:58 ET by bigtimerKrug is a real whiz-bang...after all he was another in the bunch of whiz-bangs that got a Nobel of Economics or some-such BS for Dummies.
Doubling down on stupid is not a particularly good idea. ~Andrew Breitbart
Krugman and his ivory
July 15, 2009 - 17:10 ET by ThermistoclesKrugman and his ivory tower. I marvel at the arrogance of this man. With all his vast and superior learning, he should be able to start a company and employ tens if not hundreds of thousands of people, each making well over 200K a year.
.... in theory
He would but we already
July 15, 2009 - 18:38 ET by kgHe would but we already have a government bureaucracy.
"DumbAssity of Dope"
"...business got us into this..."
July 15, 2009 - 17:14 ET by krendlerKRUGMAN: Um, you know, business got us into this, right?
Simply staggering. Business (capitalism) is bad.
The next time Obama or one of his liberal cronies trots out the "...look, we inherited this mess...capitalism got us into this" stupidity, someone should tell them that they "inherited" the greatest, most productive, most admired economic system and infrastructure humankind has ever seen - by a long shot - A system that, over the past 100 years, has raised the standard of living of people around the world immeasurably. A system that most other countries can only dream of.
Poor Barack Obama and the crappy, corrupt economic system he inherited.
Paul Krugman
July 15, 2009 - 17:52 ET by pbthinkerPaul Krugman is an expert in economics because Paul Krugman says he's an expert in economics. So far, he's convinced liberals and the NY Times he knows what he's talking about however, I would have had more respect had he told Barney Frank and AIG that derivatives, 0% down mortgages, etc. would tear the economy up. Instead, we had Krugman silent on those issues. Too Bad.
Election 2008-God's way of showing us that elections count.
The money line..
July 15, 2009 - 18:02 ET by UpNorthColbert: have you ever run one business?
Krugman: No.
So, after that answer, he should have picked up his papers and left. He's a mind-in-the-clouds theoretician, and has no practical experience in anything, other than making a lot of money off of other people's efforts.
The sixty senators thing? If your idea is right, and will work, you don't need 60 from one party, others will sign on. If your idea is to socialize the American economy, maybe you won't get the votes.
What A Spokesman. What A Spokesman!
July 15, 2009 - 18:23 ET by rammingspeedPaul Krugman is an unabashed Marxist. Many of us have known that about him and his ilk in the MSM and the feeder system to the MSM, American universities, for a long time. But he is emboldened to speak out as never before. He is perfectly comfortable in expressing support for totalitarianism; for having a collectivist, redistributionist economic system. It is incredible that it has come this far, but then again maybe it needed to. All the lying and sneaking in of legislation that the Democrats have done needs to be out there in large, bold letters, and full color pictures. Krugman is doing that.
I suppose I'll dignify
July 15, 2009 - 18:33 ET by ConservativeRexI suppose I'll dignify Krugman's dumbass comments with a reply.
Hey, numbnuts...I do believe it was the 'Bushies' that kept your sorry ass safe of about 8 years after 9/11 didn't they? You ungrateful tapeworm of society.
KRUGMAN: They understand
July 15, 2009 - 18:51 ET by GregEKRUGMAN: They understand what the problems of the economy are.
Oh yes, most definitely they do, and everyday they prove it. </end headshaking sarcasm>
Exactly WHAT flavor is the Koolaid? Fecal spice?
This friggin' clown got
July 15, 2009 - 20:36 ET by fitzfongThis friggin' clown got absolutely schooled by a comedian (perhaps Colbert was speaking tongue-in-cheek, but it still exposed Krugman for the fraud he is). If Krugman can't make a case for his corrupt brand of socialism on a comedy show backed by an audience of trained seals seeking his approval, he's got no chance debating a 1st grader on economics. This "economist" serves as a complete repudiation of the inherent virtue of the Nobel Committee, the New York Times and especially "higher" education (specifically the Ivy League).
"I spent a lot of money on booze, birds and fast cars. The rest I just squandered." -George Best
Krugman is a genius? He's dumber than bricks..here's why
July 15, 2009 - 20:38 ET by political mavenSo the rate of job losses slowing down proves it's getting better?
If a guy cuts an artery his initial blood loss will be massive, as there is less blood remaining, naturally the rate of blood loss will slow down..what a dufus!
So let's assume Krugman gets his entire wish list:
July 15, 2009 - 21:16 ET by lsudolemitecap & trade, universal health care, additional stimuli, the whole nine yards, and the economy becomes immeasurably worse as a result. Will this finally reveal his economic theories as a fraud, or will the MSM simply fall back on the standard "still not spending enough money, give it time, etc." excuse?
You will know the end is
July 15, 2009 - 21:27 ET by MightyMouthYou will know the end is near when the MSM starts getting "bail outs". At that point the state will "truely" own the press, right now the ownership can be denied by the "press". But that day will come and we will accept it, just as we have accepted all else... we deserve our own demise...(sadly)
"There are two types of people in this country; those who provide freedom and those who enjoy it." MM says...
Couldn't have said it
July 15, 2009 - 21:29 ET by bigtimerCouldn't have said it better MM...
Amen to all you said.
Doubling down on stupid is not a particularly good idea. ~Andrew Breitbart
hey BT
July 15, 2009 - 21:49 ET by MightyMouth...we are at a point in history where being "nonpartisan" means being the loser. Liberals and Democrats are like the Russians and Commies seeing nonpartisan Repubs as weak. And they are right! When we are the minority we should stand fast on every issue and vote party. If you dont want to be in the party get out! Everytime Graham and the repukes in the NE play nice WE get rolled over.
As much as I like GWB he was WAY TOO NONPARTISAN! Which is fine for being a human being but gets your ass kicked every time by low lifes like democrats and liberals!
"There are two types of people in this country; those who provide freedom and those who enjoy it." MM says...
Couldn't agree more with
July 15, 2009 - 21:57 ET by bigtimerCouldn't agree more with your sentiments here...I just got through listening to Kyle and his reaction to so-called blackmail from others, take too long to explain, my point is his reaction, nothing wrong with playing nice, being gentlemanly and all that jazz...the problem is there is no conviction in these people, no loud firm voices who speak for us, for the enemies that are doing this to them from the other side, no matter the topic....I don't know, I'm tired tonight, I'm sickened by he repub party and what I see happening daily...I'll leave it at that...
...for now. ;-)
Doubling down on stupid is not a particularly good idea. ~Andrew Breitbart
"The wheel must be turned." (Business = engine) + antibiotics?
July 16, 2009 - 00:20 ET by the Lord of UpFirst: something I hear I lot of is that "Big Business" isn't fair because it doesn't "spread the wealth around." Okay, a question: A liberal mindset sees people "properly paying (ever-increasing) taxes, then receiving ever-increasing amounts from the government back in the form of health care, social security, etc. That all the money should flow in some great circle (or wheel). Nice, fine, dandy. I don't like people starving either.
However, where I find fault in this "logical plan" is this: where's the money coming from? Some might say "oh, the government, of course. They made the money and can just make more. However, this leads to inflation. Then, printing money will solve NOTHING. Rather, it is the businesses who provide the goods that make money worth something by having items that can be bought with the money thus giving it value. Going back to our circle, it's fine and nice and all but it just sits there. Business is what causes the cycle to occur, that circle to spin, that wheel to roll forward.
And as for Paul's lovely comment about "antibiotics", I actually think that's quite appropriate. After all, the best way to cure a Cold (recession) is just GOT to be taking an antibiotic (Government spending). After all, it makes us feel better, so what's the problem?
Cure the symptoms, ignore the actual illness. Way to go Doc'bama. I'm sure you'll be the best person to "fix" our health care system. I mean sure, it's falling apart when used elsewhere, but it won't happen that way to us. We learned from those times. And besides, we're "special." Even though we're nothing special, we're just another country in the world. And a mean one at that too. I mean look at all those people leaving their native lands in search of a better life and then when they come here and find it, we won't even be nice enough to pay for all their health care.
[sigh]
Oh, wait. [glances around] Is my sarcasm showing?
-Sean Goerling, the Lord of Up
which is a big improvement
July 16, 2009 - 01:49 ET by RR GOPwhich is a big improvement on previous management
How the heck is that?
Who are these people they get into that studio audience...college students? Twenty-somethings that still live at home?
I remember the people Glenn Beck had on a couple of his townhall format shows. A good cross-section of American society-and they were none to happy about what's going on.
One of the 34% who thinks George W. Bush was a great President. One of the 61% who wants to bring back the stock and pillory (yep...approval for Congress now at 39%...do you believe that!?).
July 16, 2009 - 08:28 ET by jessieHKrugman is an idiot. Anyone in their right mind wouldn't have given all that money to the very ones that caused the need for a "stimulous". Yes, I blame Bush, but I blame obama & the MSM, especially the NYT, for this B.S. I hope the MSM talk till they are jobless.
The Dems are destroying the private sector, and Krugman,...
July 16, 2009 - 08:55 ET by R D Helm...as far as I am concerned, is a willing accomplice in this.
Whether this is being done deliberately (as I believe it is), or out of sheer stupidity, or somewhere in between, really doesn't matter at the end of the day.
The result will be the same.
Only the private sector can bring about an economic recovery, not the government. As things are currently progressing (regressing?), the chances of any real recovery are diminishing daily.
-Dave
"...stimulus plan is 'working exactly as we had anticipated.'" - PrezBO
Dems Are TRYING To Destroy The Private Sector
July 16, 2009 - 11:22 ET by rammingspeedR D Helm - excellent post. To me the stupidity of the Left on this issue is the choice to believe senseless theories along with their refusal to even listen to word one from the other side. Krugman and his gang have been perfectly insulated. Colbert zinged Krugman with questions about his lack of experience. As the country slips, and it is obvious that Krugman's beliefs and Obama's policies are behind it all, the 2010 ballot boxes will become magnetized, pulling in voters who'll rectify the situation.