The New York Times’ bumbling economics writer Paul Krugman continues to beclown himself the more he tries to defend the Bidenomics monstrosity.
Krugman took to X (formerly Twitter) to once again downplay the inflation crisis brought on by President Joe Biden’s off-the-rails spending and stimulus policies that helped send price hikes into overdrive. His new excuse? Biden’s inflation battle is similar to President Ronald Reagan’s.
“For people who say that Americans care about the level of prices, not the inflation rate, note that cumulative inflation under Biden so far is close to the number under Reagan. Which is why Reagan lost the 84 election in a landslide. Oh, wait.” No, you didn’t misread that. But as usual with Krugman’s takes, he left out crucial context that ended up obliterating his argument.
Manhattan Institute Senior Fellow Brian Riedl pointed out to Krugman that the “obvious difference [was] that Reagan inherited a 13.5% inflation rate, so voters gave him more slack to gradually bring it down to 3.2%.” Krugman didn’t bother mentioning that at all. “Biden inherited a 1.2% inflation rate and low inflation expectations, so the subsequent inflation spike to 8.0% was seen as his creation,” Riedl continued. Effectively, Krugman just set himself up to take another massive “L” like the glutton for punishment that he is.
The obvious difference is that Reagan inherited a 13.5% inflation rate, so voters gave him more slack to gradually bring it down to 3.2%.— Brian Riedl 🧀 🇺🇦 (@Brian_Riedl) January 21, 2024
Biden inherited a 1.2% inflation rate and low inflation expectations, so the subsequent inflation spike to 8.0% was seen as his creation. https://t.co/GwwtIU7Rn8
Krugman’s ridiculous hot takes have certainly kicked into high gear lately.
During a recent interview, for example, Krugman had the nerve to characterize Americans’ panning Bidenomics despite all the media gaslighting as simple Biden hatred. “A lot of it is simply —a lot of people who say the economy is lousy —what they’re really saying is, ‘I hate the idea that a Democrat is president.’” So Americans shouldn’t be upset that they’re having to dish out an extra $11,000 a year just to maintain a standard of living they had in January 2021?
Krugman even comically blamed “MAGA” for disgruntled Americans struggling with high prices brought on in large part by Biden’s inflation-stimulating policies in a Jan. 9 column. “The more I look into it, the more I’m convinced that much of what looks like poor public perception about the economy is actually just Republicans angry that Donald Trump isn’t still president,” Krugman grumbled. It couldn’t possibly be that Americans are actually struggling to make ends meet in Biden’s economy, right Krugman? As X owner Elon Musk concluded in a recent post rebuking Krugman: "You give economics a bad name." No kidding.
Krugman is displaying the symptoms of the now-common syndrome that gripped the left-wing punditry during Biden’s economy as the New York Post editorial board analyzed: “[E]litist ignorance.” In other words, if elitist hacks like Krugman had “been shopping to feed their families these last few years, they would have noticed the average grocery bill has shot up 25%,” said the Post. Krugman is currently estimated to be worth $5 million. The newspaper concluded: “Bottom line: The pundit class’ confusion over Biden’s unpopularity is just one more proof of George Orwell’s maxim: ‘There are some ideas so absurd that only an intellectual could believe them.’” Making a career out of peddling “absurd” ideas seems to have proven very lucrative for the delusional Krugman.
Conservatives are under attack. Contact The New York Times at 800-698-4637 and demand it distance itself from Krugman’s nonsensical Bidenomics propaganda.