Tuesday, January 22, 2008

Paul Krugman "Has a Dream"

Op-ed contributor and left wing liberal Paul Krugman (at the New York Times)made a feeble attempt at re-writing a bit of history in this Reagan hit piece:

"Historical narratives matter"

Bill Clinton knew that in 1991, when he began his presidential campaign. “The Reagan-Bush years,” he declared, “have exalted private gain over public obligation, special interests over the common good, wealth and fame over work and family. The 1980s ushered in a Gilded Age of greed and selfishness, of irresponsibility and excess, and of neglect.”

You see Krugman starts his narrative out by quoting Clinton, (the king of fairy tales), and then uses this premise as a factual statement. Then Krugman switch's gears and use Obama to set up his next BIG falsehood:

Maybe Mr. Obama was, as his supporters insist, simply praising Reagan’s political skills. (I think he was trying to curry favor with a conservative editorial board, which did in fact endorse him.) But where in his remarks was the clear declaration that Reaganomics failed?

For it did fail. The Reagan economy was a one-hit wonder. Yes, there was a boom in the mid-1980s, as the economy recovered from a severe recession. But while the rich got much richer, there was little sustained economic improvement for most Americans. By the late 1980s, middle-class incomes were barely higher than they had been a decade before — and the poverty rate had actually risen.

There's that class envy all liberals throw out there as an exclusive fairy tale. Now this is where Krugman does his best to re-write/fabricate historical facts that I will debunk, but Krugman helps out by claiming all this narrative is an idea that needs to be driven home.

Like Ronald Reagan, President Bush began his term in office with big tax cuts for the rich and promises that the benefits would trickle down to the middle class. Like Reagan, he also began his term with an economic slump, then claimed that the recovery from that slump proved the success of his policies.

And like Reaganomics — but more quickly — Bushonomics has ended in grief. The public mood today is as grim as it was in 1992. Wages are lagging behind inflation. Employment growth in the Bush years has been pathetic compared with job creation in the Clinton era. Even if we don’t have a formal recession — and the odds now are that we will — the optimism of the 1990s has evaporated.

This is, in short, a time when progressives ought to be driving home the idea that the right’s ideas don’t work, and never have.

And Mr. Krugman's socialist big government ideas work to perfection? Got it.

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