PrintMay 28, 2010
Trillion-Dollar Deficits and the Press
The prolongation of the Great Recession is due to bad government policy, just as in the Great Depression. And just as in the 1930s, the greatest threat to prosperity is the federal government. But one would never suspect this if one got one's news from the lapdog media, which shamelessly repeats D.C.'s lies and pabulum.Vying for the title of "Best in Show" of the lapdog media is The New York Times. The Times' big star is columnist and Nobel Prize-winning economist Paul Krugman. Krugman is a case of a "scientist" gone native. He's received considerable criticism from fellow economists, especially Don Luskin in his "Krugman Truth Squad" column for National Review Online (archives here; nice juicy column here).In "We're Not Greece" on May 13, Krugman wrote, "We'd be better positioned to deal with the current emergency if so much money hadn't been squandered on tax cuts for the rich and an unfunded war." Let's unpack this remarkable...(Read Full Article)
