[quote=pri_dk][quote=Allan from Fallbrook]As fervent a Keynesian as Krugman purports to be, he also overlooks or ignores Keynes’ admonition regarding excessive debt and that Keynes’ prescription for government spending in times like these is blunted or retarded when excessive debt is present.[/quote]

[quote=EconProf]Exactly right Allan. Keynes actually proposed, at the onset of the Great Depression, that the government run a deficit only when needed to stimulate the economy, and then to run a surplus during prosperity to “pay it back”.[/quote]

You two need to get your get your stories straight before launching the partisan attacks. Please show us where Krugman says we should should never run a surplus. We haven’t had a surplus in over a decade and certainly never had an opportunity for one during Obama’s and Krugman’s tenure.

So make up your mind EconProf: Are we in the “intractible Great Recession” or a time of “prosperity” where we should “pay back” the deficits? You seem to want to have it both ways.

BTW:

[quote=pri_dk]Cue the Krugman bashers – remember to attack the person and not his argument…[/quote]
[quote=Allan from Fallbrook]Krugman has lost nearly all credibility and now simply stands as a shill for the Left and the Left’s attendant nostrums.[/quote]

Right on cue, Allan. Did you even read the article?[/quote]

Pri: Oh, relax. Jesus, you need to start drinking decaf or something. Krugman IS a shill for the Left; I’m not making a partisan attack.

And, yes, I did read the article, thank you. My comment, and EconProf’s response to my comment, was not an attack on Krugman: It was a statement as to what Keynes actually said regarding governmental pump priming.

You’ll note in EconProf’s response that he referenced Keynes and NOT Krugman. He did NOT ascribe any discussion regarding surplus to Krugman: YOU DID.

The points I made in my response were solely regarding Keynes and his recommendations/admonitions, not a one had anything to do with Krugman (or Obama for that matter, who receives glancing entree from you). The only statement which connects Krugman and Keynes is that Krugman is a Keynesian (not a Kenyan, that’s Obama!). Stating that Krugman is a Keynesian is neither a pejorative nor is it some startling revelation.

You have something of a bad habit of going off half-cocked without reading what posters are really saying. You’re trying to act as though EconProf and I are the head of some evil anti-Krugman cabal. Far from it: Krugman discredited himself long ago.