The Last Of The Millenniums

Just because it always has been, doesn't mean it always will be

Feeling The Bern – ‘Paul Krugman, Top Economists: Bernie Sanders Is Engaging In ‘Fantasy Economics’

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This is like climate science.

You can deny it but when the majority of climate
scientists agree, then you at the very least,
have to start looking at the evidence.

Unless of course you think Paul Krugman, Chairs
of the Council of Economic Advisers for
Presidents Barack Obama and Bill Clinton” Alan
Krueger, Austan Goolsbee, Christina Romer, and
Laura D’Andrea Tyson and others are just wrong?

——————-

‘In Krugman’s recent post in the New York Times
he brings up a challenge to the economic thought
of both Sanders and Professor Gerald Friedman,
who makes the claim that the Vermont Senator’s
economic plan would make jobs and income soar’.

‘Friedman states that real economic growth under
Sanders would grow to 5.3% per year’.

‘Krugman writes’:

“OK, progressives have, rightly, mocked Jeb Bush
for claiming that he could double growth to 4
percent. Now people close to Sanders say 5.3???”

” It’s possible that we can get unemployment
down under 4 percent, but that’s way below any
estimates I’ve seen of the level of unemployment
consistent with moderate inflation.”

‘Krugman goes so far as to even say that if this
sort of line was being perpetuated by a
Republican, it would be described as “deep
voodoo.” He continued, saying’:

“Sanders needs to disassociate himself from this
kind of fantasy economics right now.”

“We are concerned to see the Sanders campaign
citing extreme claims by Gerald Friedman about
the effect of Senator Sanders’s economic plan—
claims that cannot be supported by the economic
evidence”.

“Friedman asserts that your plan will have huge
beneficial impacts on growth rates, income and
employment that exceed even the most grandiose
predictions by Republicans about the impact of
their tax cut proposals”.

“As much as we wish it were so, no credible
economic research supports economic impacts of
these magnitudes”.

“Making such promises runs against our party’s
best traditions of evidence-based policy making
and undermines our reputation as the party of
responsible arithmetic”.

“These claims undermine the credibility of the
progressive economic agenda and make it that
much more difficult to challenge the unrealistic
claims made by Republican candidates.”

From :
http://www.addictinginfo.org/2016/02/17/paul-
krugman-top-economists-bernie-sanders-is-
engaging-in-fantasy-economics/

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