But it confirms that Krugman has long since abandoned his profession as an economist in favor of the more illustrious position as the lead propagandist for the New York Times. In light of this shift in career direction, Krugman should adopt the new title of Political Hack so no one confuses him with being a real economist.
As his right hand man, Krugman could do worse than former Clinton Labor Secretary, Robert Reich who has been a vocal advocate for more stimulus programs and a new Works Progress Administration (WPA). Like Krugman, Reich's economic plan involves spending more money when our nation is already running the highest deficits in over 60 years.
While many Keynesians like Reich continue to push the idea of increasing road and bridge construction, I’d like to lend a hand and offer a suggestion. With the elimination of NASA’s shuttle program, perhaps they could start building a road to the moon. Imagine how many jobs we could create! The unemployment rate would drop to zero!
Sadly, this type of project isn't a far stretch for many Keynesians.
Nevertheless, the larger point is that we can’t compromise with individuals who don’t dwell in the state if reality. It's time to realize that the Keynesian notions of Krugman, Reich, and other liberals are supported by the twin pillars of lunacy and imbecility.
Compromise was not a solution. The GOP should have continued to fight back – moving past the arbitrary August 2 deadline. Instead, we’re stuck with a deal that maintains our status as the next Greece.
I think Hayek was wrong. Maybe we're not traveling on the road to serfdom. Perhaps we took a wrong turn and ventured onto the road to hell. But at least we are well prepared with plenty of compromise.