HOW "NO NEW TAXES" RUINED AND IS RUINING THE REPUBLIC
Paul Krugman outlines why you do not really need a degree to be a 'GOP economist'.
Ex post, you can start to make the case that the Bush tax cuts were perhaps the worst policy choice since ... well, maybe that 1957-58 thingy? (Um, maybe not, but even wage-price controls look smiley in comparison).
They spurred and contributed to "over-consumption", precisely at a time when economists were talking about the urgency of national savings.
What's worse, the no-tax-and-spend-policies got amplified by a tax-free war, complete with a standing army in two foreign countries, inducing a widespread culture of irresponsibility. (no CEA economists also familiar with military history?)
Tuesday, November 25, 2008
No PhD Required
