Thursday, October 30, 2003
Denial isn't just a river in Egypt: Economic numbers are much better than expected, and New York Times columnist Paul Krugman cautions that this growth rate cannot be sustained.
There's really little doubt that the economy cannot sustain an astronomic 7.2 percent quarterly growth in the GDP. So Krugman's not really going out on a limb, but there's also an admission in Krugman's piece:
Bush can do nothing right when it comes to the economy -- nothing.
If the economy remains in the doldrums, then it's because of Bush's tax cut and the government's out-of-control spending.
If the economy improves, then it only does so in spite of Bush's tax cut and other economic policies -- and even then it doesn't matter because the government's running a deficit.
No need playing Krugman's games, when there's no way you can win.
On a related note: Random Jottings has evidence of what it calls a "factual error" in last Friday's Krugman column. If the "error" were counter to Krugman's bias, I'd label it as such. Unfortunately, but predictably, the "error" is to the benefit of Krugman's bias -- so I'd label it a "lie."
Will Krugman correct this, ignore it, or attempt to spin it?