The Time Loop Party

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http://www.nytimes.com/2016/02/08/opinion/the-time-loop-party.html?rref=collection%2Fcolumn%2Fpaul-krugman&action=click&contentCollection=opinion&region=stream&module=stream_unit&version=latest&contentPlacement=1&pgtype=collection

For all you Krugman fans out there.

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1. Its Krugman talking, so any reference to economics must be taken with an LSD Counter-actant. To wit:

First, there’s the ritual denunciation of Obamacare as a terrible, very bad, no good, job-killing law. Did I mention that it kills jobs? Strange to say, this line hasn’t changed at all despite the fact that we’ve gained 5.7 million

private-sector jobs

since January 2014, which is when the Affordable Care Act went into full effect.

Krugman sites a FACT that we have "gained" 5.7M jobs. Reality is that we have "recovered" 5.7M jobs. We have not "GAINED" a single job since 2008.

2. He quits talking facts and actually gets something correct.

Then there’s the assertion that taxing the rich has terrible effects on economic growth, and conversely that tax cuts at the top can be counted on to produce an economic miracle.

This doctrine was tested more than two decades ago, when Bill Clinton raised tax rates on high incomes; Republicans predicted disaster, but what we got was the economy’s best run since the 1960s. It was tested again when George W. Bush cut taxes on the wealthy; Republicans predicted a “Bush boom,” but actually got a lackluster expansion followed by the worst slump since the Great Depression. And it got tested a third time after President Obama won re-election, and tax rates at the top went up substantially; s

ince then we’ve gained eight million private-sector jobs.

Reality is that we have not "gained" any jobs. We have simply got back to Zero using 2008 as a base line. The entire "expansion under Obama has in reality been just a recovery, to 2008 levels, and a weak recovery at that. However, we have seen/proven that raising taxes to traditional levels of Eisenhower-Kennedy-Johnson-Clinton have not wrecked the economy.

I am afraid that what Krugman is saying will be true. If we elect another Republican we can see more tax cuts and even more insane debt. The Reps do not seem to grasp the basics of the equation as yet.

[AURaptor 1,122]

Cruz gets it.

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pant suite lyes.