Nobel-Prize winning crank Paul Krugman whined today that the Republican leadership is holding the
unsustainable spending country hostage. Keynesian Krugman believes Democrats should be allowed to spend as much as they want, whenever they want, on whatever they want, without having to stand before the Republicans and be held accountable… Deficit be damned!
The Huffington Post reported:
Paul Krugman on Sunday accused the Republican leadership of holding the country hostage.
The Nobel-Prize winning economist and New York Times columnist argued that congressional Republicans are “threatening to blow up the world economy” if they don’t get their way in the debt-ceiling debate. After a difficult fiscal cliff battle, President Barack Obama said he would not negotiate over the debt ceiling, but Republicans have said they won’t authorize an increase in the country’s spending limit without major spending cuts.
“We should not allow this to become thought of as a legitimate or normal budget strategy,” Krugman said on ABC’s “This Week.” “This is hostage taking.”
Krugman has made similar statements in the past, particularly when defending the idea of minting a trillion-dollar platinum coin to avoid the debt ceiling crisis.