Paul Krugman’s column (TNT, 3-14) about government spending and deficits is ripe with questionable assertions.
Krugman tosses numbers around and goes into great detail about yearly deficits, yet he hardly even mentions the danger posed by the national debt. Without naming names, he coyly attempts to denigrate conservative fiscal hawks by calling them “fearmongers” who want to dismantle Medicare, Medicaid and Social Security.
To bolster his arguments, he references Kenysian economic theory, yet he fails to acknowledge that without capitalism he would be as poor as those individuals who actually do need government assistance.
I can’t help but wonder what motivates Krugman. Does he not realize that the elephant in the room is America’s national debt? Is he oblivious to the fact that America will soon be unable to pay the interest on the debt unless we make draconian cuts to our precious entitlements?
Does he not care about future generations of Americans who will be saddled with a gargantuan debt? Is he not worried that China, which currently owns about $1.2 trillion of our debt, will try to manipulate America? These are the questions that he should have attempted to answer.
Personally, I feel that Krugman is afraid of becoming irrelevant, after having won the 2008 Nobel Prize in economics, and now he feels compelled to act like a loon in order to be noticed.
He has succeeded!