I hope you’re sitting down.
Paul Krugman is suddenly concerned about the deficit and the national debt again.
For years he’s been calling us “deficit scolds” for wanting to cut spending. He’s gone so far as to say that the efficiency of stimulus spending doesn’t even matter — just spend on whatever. Increase that deficit one way or another.
Now that a Republican is taking office, Krugman is changing his tune.
Once you’ve recovered from the overwhelming force of that shocking surprise, check out episode #61 of Contra Krugman, my weekly podcast with Bob Murphy:
Yes, there is an entire podcast dedicated to refuting Krugman. Check it out, and subscribe (for free, of course).
This is typical, of course. We expect liberals to resist Republican presidents on war and civil liberties, and conservatives to resist Democratic presidents on spending and the economy.
When it’s one of their own, all bets are off.
And when it’s one of the other side, they’ll throw their own principles out the window in order to oppose him.
That must be exhausting.
Being a libertarian is so much easier, and I sleep so much better at night being one.
(1) Over at my entrepreneurship site: the sales lesson you can learn from Ringo Starr, whom you incorrectly believe to be a mediocre drummer.
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