[quote=EconProf]
Krugman, a fervent Keynesian, has demanded more fiscal and monetary stimulus to make up for the lack of consumption. He has claimed that the only problem with the stimulus so far is that it has been too small. Notably, he is big government guy, so instead of the stimulus coming in the form of tax cuts, he has pushed new programs, agencies, and government workers, all of which become entrenched and impossible to remove when (and if) recovery comes.[/quote]
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.
Krugman has lost nearly all credibility and now simply stands as a shill for the Left and the Left’s attendant nostrums. He has abandoned all pretense of objectivity and will shrilly attack anyone with the temerity to disagree with him (see his recent tiff with Ken Rogoff as an example).
