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View Diary: NYT: It's Krugman Vs. Reinhart & Rogoff, Who Trivialize Their Incompetence And Attack “Left” (246 comments)

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  •  Nothing will change their goal. (28+ / 0-)

    From Krugman above:

    And this makes one wonder how much difference the intellectual collapse of the austerian position will actually make.
    It will make no difference. Can you say Bush tax cuts? The ones that would create millions of new jobs, complete pay of the national debt and secure Social Security and Medicare forever, all within 10 years. Anyone who believed that was wrong by about $16 trillion dollars. Doesn't matter, they are still pushing for more tax cuts. They always will. And they will always push for more spending cuts.

    What Reinhart and Rogoff illustrate so well is how it is always necessary for conservative economics to be supported by lies. They cooked the books, but also served their purpose. And as conservatives always do, when caught hey attack and play the victim.

    Today's dialog should not be about their spreadsheet, it should be about the fact that conservative economics, supply side fantasies, have never worked, were never going to work, and were, and continue to be, sold to the public using deception, hucksterism, and falsehoods.

    The conservative economic litany in short is:
    Reagan: Cut taxes, increase defense spending and balance the budget in 4 years!
    Bush 1: Read my lips!
    Clinton: These taxes increases will devastate the economy and put millions of people out of work!
    Bush 2: Tax cuts- most of the benefits will go to the middle class, create millions of jobs, pay off the national debt in 10 years, and put this country on a path of posterity forever!
    Obama: Slash government spending, create millions of jobs and pay off the debt!

    Over 30 years of huge, fantastic economic failures, over an over again. With today's economic misery here and abroad people are paying attention. If we want to redirect our economics away from conservative policies that have always been intended for benefit of the rich over the rest then we should use this moment, use Reinhart and Rogofff with their AEI and Pete Peterson connections, to help the public at large finally connect the dots.

    Today's economic misery is providing most of the country with the growing realization that our children and grandchildren will have it much worse than we did, and that the vast majority of us not yet retired we have it much worse than the generation that came before us. And conservative economics is to blame.

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