NYT Economist: If We Don’t Re-Elect Obama, We’ll End up Like Greece
If Republican presidential candidate Mitt Romney wins in November, we had better prepare for some Greek-style economic ruin, thus saith left-leaning New York Times blogger and noted Keynesian economist Paul Krugman.
“I think there’s a real chance that [Romney will] manage to pursue a policy in the first couple of years that simultaneously blows up the deficit and depresses the economy,” Krugman said during an interview on HuffPost Live Wednesday.
“Tax cuts for the rich, who won’t spend them, and slash spending for the poor and the middle class, who will be forced to cut back. And so we end up managing to have a simultaneous deficit explosion and double-dip recession,” he added.
Krugman wasn’t finished. The Nobel-Prize winning economist (I know, right?), had much more to say about the possible economic repercussion of voting for Gov. Romney.
“[R]epublican policies … are much more likely to make us end up like Greece,” he said, arguing that Romney’s supposed policies could lead to a “depression.”
And to top everything off, Krugman, who has spent most of his professional life in academia, believes Romney, who has spent most of his professionallife in business, is an economic illiterate.
“I’m not seeing a lot of evidence that [Romney] really does understand [economics],” he said. “People say he’s a smart guy, but it’s not visible in his statements, and it’s not visible in his off-the-cuff reactions either.”
“I don’t have a lot of hope that he actually would know what he’s doing at all or that he would even know how to pick the right people,” Krugman added.
Final Thought – Presented without comment:
[If you'd like dig deeper into Krugman rebuttals, this piece by Niall Ferguson is an absolute must.]
Follow Becket Adams (@BecketAdams) on Twitter
(H/T: Newsbusters). Front page photo courtesy the AP.
- ‘The Daily Show’ Creator Makes Outrageously Offensive Anti-Conservative Joke About Okla. Tornado 464 Comments
- Washington Times Writer: Fox News Scandal Goes ‘Much Deeper,’ W.H. Sitting on Something Top Obama Aides ‘Terrified’ About 440 Comments
- University Will Investigate Christian Professor’s Intelligent Design Class Following Atheist Furor 317 Comments
- See the First Behind-the-Scenes Photos as Beck and Mercury One Survey the Damage in Okla. 256 Comments
- Why Were DHS Agents Seemingly Monitoring Multiple Tea Party IRS Protests Across the Country on Tuesday? 242 Comments
- Farrakhan Talks of ‘Satanic Jews’ and ‘Synagogue of Satan’ at Detroit Church Speech — but Wait Until You Hear Who Was in Attendance Read More
- Biden Praises Jewish Leaders for Helping Change Americans’ Views on Gay Marriage Read More
- ‘Death! You F**k!’: Bat Mitzvah Chaperone Unleashes Explosive, Profanity-Laced Tirade Against Kids Over Candy-Throwing Incident Read More
- How Can God Let Tragedies Like the Okla. Tornado Exist? Pastors Weigh In 191 Comments
- Is This Video of Pope Francis Performing an Exorcism? 103 Comments
- China Sets off What Could Be the World’s Longest Demolition Read More
- Here are the 5 Most Interesting Moments from Tuesday’s Hearing on the IRS Scandal 124 Comments
- Jay Carney Shifts IRS Timeline (Again!) 104 Comments
- Top IRS Official at Center of Political Targeting Scandal Will Plead the Fifth 141 Comments
- Disgraced IRS Interim Chief Now Fully Admits Knowledge of Planted Question (but Did It Reveal a Past Half-Truth?) Read More
- The Incredible Role Facebook Played in the Aftermath of Devastating Okla. Tornado Read More
- Tech Company Demonstrates Remote Disabling of a ‘Smart Gun’ Read More
- Meet the Blind Man Nicknamed ‘Midnight Gunslinger’ Who Has 80% Shot Accuracy Read More
- How a $4.5 Million Network of 181 Sirens Helped Save Lives in Oklahoma Twister Read More
- See the Record-Setting Python a Man Caught With His Bare Hands (and Guess How Much It Weighed) Read More
- Mortar lands in Congo as UN chief arrives
- Zimbabwe's president signs new constitution
- Garcetti elected Los Angeles mayor over Greuel
- South Sudan warns it may shut down oil flow again
- Iran's Ahmadinejad denounces election decision
- Czech president settles dispute over gay rights
- Vatican releases 1st report of financial watchdog
- UK eyes giving visas to 600 Afghan interpreters