Business

Krugman: Forget Those ‘Budget Things,’ U.S. Gov‘t Needs to ’Just Spend & Do a Bunch Of Stuff’

Paul Krugman Advoates for a Crisis that Will Cause the Government to Spend

 New York Times Economist and Nobel peace prize winner Paul Krugman has some candid advice for the US government: forget budgets and start spending.

The alarming advice came while on a panel discussion in Washington, D.C. last month. The panel was entitled “End This Depression Now” and focused on the economic recourse the country had in the wake of current economic instability.

Krugman was asked what he would do “If we made Paul Krugman a dictator for a period of time?”  After applause from the audience Krugman noted that the “biggest” thing holding back the economy has been “unprecedented cutback in state and local spending.”  Krugman, a committed Keynesian, argued for massive government hiring in the fields of construction and education.

This tactic, he said, would reduce unemployment to below 7% and would only cost “a few hundred billion a year,“ which the economist explained ”is not that much.”  But the real goal for Krugman is a 0% unemployment.  To achieve this employment utopia, we must encounter a catastrophe on par with WWII according to Krugman:

“What took us out of the Great Depression… it was Europe’s entry into WWII and the US buildup that began in advance.  We were at full employment before Perl Harbor.  So if we can get something that will cause the government to say, ‘Oh never mind those budget things, lets just spend and do a bunch of stuff.”

 Watch the chilling advice below:

 

 

Comments (109)

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  • The-Monk
    Posted on July 6, 2012 at 12:22pm

    “What something is, is what it extends”.

    Report Post » The-Monk  
    • Longinthetooth
      Posted on July 6, 2012 at 1:26pm

      Again, Allow me;

      Jeremiah 23:9-40 False Prophets and Oracles

      16) …” Thus says the Lord of Hosts;
      “Do not listen to the words of Prophets who prophesy to you.
      They make you worthless;
      They speak a vison of their own heart.
      Not from the mouth of the Lord.
      17) They continually say to those who despise Me.
      “The Lord has said you shall have peace”
      And to everyone who walks according to the dictates of his own heart, they say
      “No evil shall overcome you”.

      21) “I have not sent these prophets, yet they ran.
      I have not spoken to them, yet they prophesied.
      22) But if they had stood in My council,
      And caused My people to hear My Words,
      They would have turned from their evil way
      And from the evil of their doings”.

      Man is only ruled by his own consent.
      Either by Virtue
      or by lies, deceit and deception……his own or by others.

      Cut the head from the snake and the body will die.

      End the Fed RP2012

      Report Post »  
    • Mutiny
      Posted on July 6, 2012 at 3:25pm

      @long

      The blaze does need like buttons for posts like yours.

      Report Post » Mutiny  
    • Gold Coin & Economic News
      Posted on July 6, 2012 at 4:56pm

      Paul, you are just a super-r-tard. I have a message for you. Here are some basic economics you should know already, but obviously don’t:
      https://www.youtube.com/watch?v=sOKcdOI25ig

      Report Post » Gold Coin & Economic News  
    • Bluebonnet
      Posted on July 6, 2012 at 5:55pm

      This short sighted man keeps showing up, just when you think you can forget him.
      He’s kind like the dog I keep occasionally. He goes out and messes in the yard. I clean it up and before I know it, he’s out messing in the yard again.
      Dam, I’m gonna rename the dog Mr. Krugmann, he’s so full of it. Keeps on crapping all over the place. Or else, can he be trained to use a litter box? Nope, too dumb.

      Report Post »  
    • silentwatcher
      Posted on July 7, 2012 at 8:42am

      What a f*cking moron. A good example of how a ‘child’ views politics.

      Report Post »  
  • snapperman
    Posted on July 6, 2012 at 12:21pm

    I think to reach 0% unemployment we’d have to have a citizenry that considered even low wage, low skill work superior to collecting government handouts.

    Report Post »  
    • ktowers
      Posted on July 6, 2012 at 12:46pm

      … or mandatory employment.

      Report Post »  
    • Mutiny
      Posted on July 6, 2012 at 1:03pm

      I think the globalist have a population reduction solution to the unemployment crisis. After the bankruptcy there will a lot fewer people needing jobs. On the other hand the grave digging employment will be booming business.

      Report Post » Mutiny  
    • StopWhiningAlready
      Posted on July 6, 2012 at 1:16pm

      How about a tax on those unwilling to take a job that pays at least 50% of the previous wage earned? If it works for healthcare, maybe it will solve the employment crisis too, right?

      Report Post » StopWhiningAlready  
    • Mr Sanders
      Posted on July 6, 2012 at 2:25pm

      Sure – and why have the frictionally unemployed? No job changes ever – everyone likes their job and employers love their employees f o r e v e r; ahh… utopia achieved! (haha)

      Keynesians always think Big-G is the solution – where do they think the authorization or contribution TO a government comes from…. in his world; I’d bet the farm that he thinks it comes endlessly, and I mean ENDLESSLY, from a-bent backsides of taxpayers, small biz, S/C corp’s, and most of all the well to-do…. and it just keeps shooting out; gobbs of cash, oodles & oodles of it!

      $6T spent Sir Paul in 3.5 years …. what was the total intake of taxes for last year, in the US, PK?

      Report Post » Mr Sanders  
    • brother_ed
      Posted on July 6, 2012 at 3:31pm

      @MUTINY

      You and I agree on this one.

      People keep saying that the Obama plan isn’t working. I think it is. This is exactly what he wants to have happen.

      Bankrupt the US. Turn our sovernty over to the UN. Further Agenda 21.

      You are right on many levels, and I hope you continue to shout it from the rooftops.

      Maybe I am taking the bait, but I want Romney because I think he has a chance to beat Obama. This will give us some breathing room. I don‘t care for any government ’plan’, I would prefer the smallest government possible.

      Report Post » brother_ed  
    • Mutiny
      Posted on July 6, 2012 at 3:48pm

      @brother

      I agree we are stuck with Romney but we dont have to be stuck with Romney’s policies. In theory he can be forced to deal with the Ron Paul supporters and have to come towards us instead of him tailgating Obama down the road of bankruptcy.

      Look the ABO crowd is going to vote against Obama no matter what. Now its time for Romney to go hard right. He needs to adopt the Ron Paul policies. Yes he will look like a hypocrite and flip flopper but lets be honest, he is one. Would anyone not vote for Romney if he came out today and said “ when elected I am bringing the troops home”? Or how about “I will repeal and not replace Obamacare, the Patriot act, and the NDAA.”. Would he lose support if he said “we need to work to phase out the FED.”? Would the ABO crowd leave him if he said “we need to phase out SS.”? Or lastly how if Romney came out and said “ we need to end the incentive programs for illegals” would he lose votes?

      Those are the steps to take to prevent or lessen the damage of bankruptcy in the United States. The problem is Romney will not do it. He is continuing the path we are on, which ultimately leads to bankruptcy. That is why in my opinion supporting Romney is no different from supporting Obama. One is doing it on purpose(Obama) the other is doing it on purpose also or is doing it unknowingly(Romney). Either way we lose.

      Report Post » Mutiny  
    • brother_ed
      Posted on July 6, 2012 at 5:25pm

      @MUTINY

      If Romney is elected, it is not time to go to sleep.

      We need to keep a close eye on him.

      I agree that he needs the RP supporters.

      Stay vigilant, the fight is not over – it has just begun.

      I’ll admit, I am voting for Romney because “At least he’s not a commie”.

      Report Post » brother_ed  
    • Thatsitivehadenough
      Posted on July 6, 2012 at 8:15pm

      If things weren’t so serious, Krugman would be funny. But, it’s rude to laugh at the mentally insane.

      Report Post » Thatsitivehadenough  
  • jakartaman
    Posted on July 6, 2012 at 12:19pm

    Yes by all means lets just keep kicking the can down the road so when TSHF it will be much worse.
    here it a tip for the nobel prize winner (what a joke) – stop spending stupid.
    Why is our country any different than my house budget? – If I were in debt up to my eyeballs,
    the bank would take my home, the cars would be repossessed, my utilities would be shut off, my credit at the grocery store would stop.
    It you gave me more $$ – yes I could survive for a little while longer – but if I did not change my spending habits guess what!!

    Report Post »  
    • soybomb315
      Posted on July 6, 2012 at 12:52pm

      You said, “stop spending stupid”

      Does that make Mitt Romney stupid? Look at his quotes below

      “if you take a trillion dollars for instance, out of the first year of the federal budget, that would shrink GDP over 5%. That is by definition throwing us into recession or depression. So I’m not going to do that, of course.”
      - Mitt Romney

      “If you just cut, if all you’re thinking about doing is cutting spending, as you cut spending you’ll slow down the economy,”
      -Mitt Romney

      http://www.rawstory.com/rs/2012/02/21/romney-says-spending-cuts-will-slow-economic-growth/
      http://www.dailykos.com/story/2012/05/08/1089726/-Mitt-Romney-says-spending-cuts-will-shrink-economy-and-destroy-jobs-so-why-does-he-support-them

      Report Post » soybomb315  
    • Mutiny
      Posted on July 6, 2012 at 1:01pm

      I find it funny you attack me posting about Romney and make fun of my support for Ron Paul. Then you follow that up with talking about cutting spending.

      Romney’s budget doesnt cut current spending!!!! Even if he adopts the Paul Ryan plan he only cuts 5 trillion in 10 years. That still leaves us with 24 trillion in debt. A 50% increase. Do you honestly think we can handle that debt?

      Report Post » Mutiny  
    • jakartaman
      Posted on July 6, 2012 at 1:55pm

      We need to stop spending on:
      Foreign aid
      Pull military out of japan, germany, philippines etc
      Freebies to people who don’t want to work
      Food stamps
      Free housing
      Free health care to illegals
      Payoff to union thugs (stimulas)
      Stop the Green energy facade
      Cut Federal government by 70% – get rid of whole Agencies and Departments
      Cut state/city workforces and pay/retirements
      Increase social security retirement age
      Provide drilling licenses
      Build the pipeline
      Give incentives for natural Gas expansion

      Report Post »  
    • jakartaman
      Posted on July 6, 2012 at 1:59pm

      Forgot
      To stimulate the economy REDUCE TAXs – flat tax
      Balanced budget amendment
      Term limits

      Report Post »  
    • soybomb315
      Posted on July 6, 2012 at 2:10pm

      @jakartaman

      Which candidate is most likely to do those things?

      Report Post » soybomb315  
    • Mutiny
      Posted on July 6, 2012 at 3:26pm

      @jak

      Was your computer hijacked or do you really want those things. You sound like a Ron Paul supporter.

      Report Post » Mutiny  
  • Gonzo
    Posted on July 6, 2012 at 12:17pm

    So Krugmann recomends a 3rd world war to increase employment? He may get his wish.

    Report Post » Gonzo  
  • 65Plus
    Posted on July 6, 2012 at 12:17pm

    What a wise and insightful mind. Why – this guy deserves… a NOBEL PRIZE!! Or two! Pick ‘em up up at your local 7-11, like our Prez did.

    Report Post » 65Plus  
  • Landon410
    Posted on July 6, 2012 at 12:16pm

    I’m gonig to start a company where I am a financial planner for people in debt. I will explain to them that in order to lower their credit card debt they should buy a brand new car.
    When the car payments become too much I’ll tell them to buy a summer home.

    When they tell me I‘m crazy I’ll reply, I’m using Keynesian economics, which is the line of thinking Obama uses

    THis might be the only way to teach poor ******** the truth

    Report Post »  
  • BTC55
    Posted on July 6, 2012 at 12:14pm

    Krugman is just looking out for us.
    Why hould Greece have all the fun.

    Report Post »  
  • Rayblue
    Posted on July 6, 2012 at 12:10pm

    Nothing from a nothing.

    Report Post » Rayblue  
  • frogg
    Posted on July 6, 2012 at 12:10pm

    I just saw an ant with a bigger Brain!!!! Nough Said!!!

    Report Post » frogg  
  • great white hunter
    Posted on July 6, 2012 at 12:09pm

    That dude is an idiot. At what point does he run out of other peoples money? The fix for the economy is to cut spending drastically and eliminate the regulations that strangle business. This is the starting point. Eliminate the ridiculous waste of tax payer money. Stop the obscene retirements in government. Stop the obscene foriegn aid to our enemies. Stop giving tax dollars to ridiculous green companies. Stop the crap.

    Report Post »  
  • scootervanneuter
    Posted on July 6, 2012 at 12:06pm

    Spoken like a true liberal financial genius!
    Unfortunately my Cocker Spaniel has a keener insight into macro-economics than this pathetic putz -

    Report Post » scootervanneuter  
  • Detroit paperboy
    Posted on July 6, 2012 at 12:06pm

    Krugman is correct, we just need about a thousand more Solyindras…..then we will be fine !!!!!

    Report Post »  
    • TSUNAMI-22
      Posted on July 6, 2012 at 12:17pm

      Speaking of Solyndra…..I drove by it on Wednesday after leaving Fourth of July (Festivus) activities. It has a “for sale” sign on the west wall and the weeds are overgrown around the property. The whole place is in a general state of rapid decay……………………….just like the United States of Marxism.

      Report Post »  
  • Constructionist
    Posted on July 6, 2012 at 12:04pm

    Paul Krugman: The reason that Ewoks are no longer allowed to mate with accountants…

    Report Post » Constructionist  
  • contkmi
    Posted on July 6, 2012 at 12:01pm

    And to think, he won a Nobel.

    Report Post » contkmi  
    • mattmo79
      Posted on July 6, 2012 at 12:08pm

      Obviously the Nobel standards are pretty low!!

      Report Post » mattmo79  
    • cemerius
      Posted on July 6, 2012 at 12:10pm

      ha ha ha as IF the Nobel Peace Prize means a damn thing?? They give them out to the craziest of people just like Barry Soterro got one for things he was “gonna do”…….

      Report Post » cemerius  
    • Die_Hard_Blazer
      Posted on July 6, 2012 at 5:33pm

      didn’t obama get the nobel peace prize for bombing libya without congressional approval?

      oh thats right! he killed innocent people AFTER he won the nobel peace prize…..

      Report Post »  
  • SquidVetOhio
    Posted on July 6, 2012 at 11:59am

    So his answer is WWIII? Yea, smartest guy in the room. sigh…..

    Report Post » SquidVetOhio  
  • pissantno.10
    Posted on July 6, 2012 at 11:59am

    one of these guys who will end up getting caught for not paying taxes.

    Report Post »  
  • Mutiny
    Posted on July 6, 2012 at 11:59am

    Here is another Romney on Bernanke gem.

    http://www.youtube.com/watch?v=x2t0LjX1gBA&feature=relmfu

    Report Post » Mutiny  
  • Mutiny
    Posted on July 6, 2012 at 11:56am

    Mitt Romney on Ben Bernanke.

    http://www.youtube.com/watch?v=5FtzSmlkncM&feature=relmfu

    For those of you that thing Romney brings change you are delusional. A vote for Romney is a vote for Obama’s polices.

    Report Post » Mutiny  
    • jakartaman
      Posted on July 6, 2012 at 12:23pm

      I think we should all vote for Ron Paul – whada think Mutiny?
      Idiot!

      Report Post »  
    • Mutiny
      Posted on July 6, 2012 at 12:53pm

      LOL, if we all did then we could save this country. I dont think that sounds idiotic at all. Facts are facts. Romney doesnt understand the problem the FED causes. He proves it with the sound bits. Yes I know since the April of 2011 video Romney has come out and denounced Krugmann but for what? Has Krugmann changed or has Romney needed to look more like he knows what he is doing.

      You know what I think is being a idiot? Doing the same thing over and over again and expecting different results. You people keep voting for progressive, big government, big spenders and expect him to do the right thing?

      We will see who the idiot is when we go bankrupt and there are riots, looting, murders and rapes in all corners of our country. I guess you are one of those people who think guns should be taken so when people like me rebel against the government we can easily be indefinately detained.

      You are a perfect example of why we are in such bad shape as a country. You are a mindless sheep just following the ass of the sheep in front of you.

      So since you think Ron Paul is such a bad idea you are against these things?

      1. You are against ending the FED.
      2. You want us to stay in the UN.
      3. You want to keep the endless wars going.
      4. Cutting departments and the size of government is bad?
      5. You are for the TSA.
      6. You are pro gun control.
      7. You like laws like the Patriot Act and NDAA.
      8. You want to repeal and REPLACE Obamacare.
      9. You are for amnest

      Report Post » Mutiny  
    • jakartaman
      Posted on July 6, 2012 at 1:47pm

      Paul is not running – he has as much a chance of being president as I do.
      So all your wishing and hoping is getting very very boring!
      I an a CC holder and cary every day.
      I am also a thinking realist – Our best and now only chance to stop the communist is Romney.
      Is he perfect – no
      He he a moralman-yes
      Does he know how to run an economy and create jobs – I think so
      What has Ron Paul run besides his doctors office?

      Report Post »  
    • Mutiny
      Posted on July 6, 2012 at 3:35pm

      @jak

      If Romney really wanted to help this country he would adopt the Ron Paul polices now. Romney‘s polices are ones that lead us to the same place as Obama’s, bankruptcy. To stop the bankruptcy/make it easier we have to take steps Ron Paul laid out. The longer we wait the worse it will be.

      If Romney came out and said these things he would gain votes and respect.

      1. I want to pull the US out of the UN.
      2. I want to phase out the FED.
      3. I will repeal and not replace Obamacare, the Patriot act, and NDAA.
      4. I will end the TSA.
      5. I will phase out SS.
      6. I will bring our troops home and close 80 to 90 % of our foreign bases.
      7. I will cut departments like education, energy, Housing and Urban Development, Commerce, Interior.

      Romney has to earn our vote. We can overlook his terrible past if he can do these things.

      Report Post » Mutiny  
  • AJAYW
    Posted on July 6, 2012 at 11:53am

    Liberal POS

    Report Post »  
  • RightUnite
    Posted on July 6, 2012 at 11:50am

    This old demented fool needs to shut his yap!!!

    Report Post »  
  • gooeylewie
    Posted on July 6, 2012 at 11:50am

    I guess you can’t cure stupid.

    Report Post »  
  • psadie
    Posted on July 6, 2012 at 11:49am

    OMG. I cannot believe how STUPID AND INCOMPETENT these fools are. Spending your way out of debt is ridiculous; is that what you do to pay your bills, Krugman? What an idiot! This is the kind of thinking that Obama has surrounded himself with and that is WHY things are worse than ever before.

    Report Post »  
  • RedDirtTexas
    Posted on July 6, 2012 at 11:48am

    Idiots, one and all at the NY Times!

    Report Post » RedDirtTexas  
  • Smokey_Bojangles
    Posted on July 6, 2012 at 11:46am

    Gee,Mr Economy Genius.FDR‘s New Deal’s uncertainty, big spending, and regulation prolonged the Depression. FDR’s Treasury Secretary, Henry Morgenthau, admitted: “We have tried spending money. We are spending more than we have ever spent before and it does not work.”

    Report Post » Smokey_Bojangles  
  • Detroit paperboy
    Posted on July 6, 2012 at 11:45am

    Yeah, more welfare would be a great stimulus…………….for the drug dealers.

    Report Post »  
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