Paul Krugman is an idiot, part 5.

In Paul's recent homily to deficit spending, he proves for the 64,388th time that he is less an economist than a pundit. Chief mouthpiece for the propaganda ministry of the Democrat party. This was the man decrying deficit spending under the spendthrift Bush, but laud's double the rate of deficit spending under Obama. No honesty or integrity in sight, but let's address his latest example of shameless posterior licking.

Essentially Paul thinks we would be stupid not to borrow, at the Federal level, for such necessities as "infrastructure", education, energy, wastewater treatment, bike paths, who knows. And his reasoning is that interest rates are so low that borrowing is cheap., Yes, Paul, in that you are correct. However, we are already $19.45T in debt, with deficits rising faster than our record revenues, due largely to Obama's spending orgy and Democrats hypocritical willful ignorance of it. In other words, our debt is 106%of GDP, and on top of that spending is outpacing income. In a sane world this is the very definition of Bankruptcy. However Paul had written in the past about his grand plan to mint a $1T Platinum coin to alleviate this, where exactly did this hack get an education?

Now, Paul, in your household, if your debt were 106% of income, and your annual spending 131% of income, how would it possibly make sense to borrow more low rates or not?

Perhaps, if this borrowed monies were to be invested in income producing assets, but that is not what government does, and it does nothing efficiently. Your idea is for Obama who began his tenure with $1T in borrowing for infrastructure(remember the shovel ready projects he later laughed about?) to end his tenure with another massive borrowing for the same wasteful black hole. Imagine that you get paid for spewing this lunacy.

Aside from the economic idiocy of this, you have forgotten, if you ever knew, about a little antiquated document called the Constitution. NONE of your spending projects are the responsibility of the Federal Government. This is part of the problem, when spending is conducted by political corruption and vote buying in Washington, it is not directed where it is needed to help the economy, but where it will buy the most votes. And the taxpayers are, as always, left holding the bill. It seems that you are hell bent upon turning the entire Federal governemt into a huge replica of the Ponzi scheme that is Social Security.