I caught a bit of a C-Span point-counterpoint with Newt Gingrich and Al Sharpton.
How does Newt get away with suggesting a totally irresponsible, "short-term", defunding of social security obligations as an appropriate response to cyclical downturn?
Isn't that a significant way GM and other companies got into dire straights? They didn't fund their pension obligations all along until it was so bad that the net obligations couldn't even fit on their balance sheet, right?
Now, Gringrich suggests that we can afford a similar 'holiday'? Maybe he didn't hear about Jindal's 'Mankiw moment' ...
The answer is that Paul Krugman cannot be everywhere and the 'institutionalization' of liberal economics is weak ... either that, or the Right knows its economic talking points better than the Left, more often than not.
Tuesday, April 14, 2009
Party of Irresponsibility
