Steve Barnes: Krugman’s out-of-date economics

Regarding the Paul Krugman Sept. 29 column “The blackmail caucus”: Krugman is a dinosaur. He fails to grasp that his brand of economics is out of step with the 21st century economy – the world is one; the world competes; and looking forward with new ideas is what is needed.

In 2009 Barack Obama attempted to “prime the pump” with an almost $1 trillion (shovel ready ... not) spending bill as part of a $1.5 trillion “deficit” (revenue: $2.1 trillion; expenditure: $3.5 trillion). And Krugman has repeated here and elsewhere, over the past few years, that the $1 trillion prime the pump dollar amount should have been larger and should have happened more than once.

In addition, Krugman continues to support Obamacare, which Obama forced upon the American people even though the majority of Americans did not and still do not want it, and no one really understands its impact on the economy or what it will cost in terms of future deficit budgets.

That type of thinking – spend without regard to “consequences” (Obama’s deficits will never be paid off ... never) – is yesterday’s economics and needs to go the way of the dinosaur.

This story was originally published October 7, 2015 at 6:09 PM with the headline "Steve Barnes: Krugman’s out-of-date economics."