Krugman Falsely Claims Romney Wants to Enact Greece's Failed Economic Policies Here

New York Times columnist Paul Krugman on Sunday continued his campaign to get Barack Obama reelected by misinforming the public about the economy.

Appearing on CNN's Fareed Zakaria GPS, the Nobel laureate falsely claimed Republican presidential candidate Mitt Romney wants to enact Greece's failed economic policies here in America (video follows with transcript and commentary):

FAREED ZAKARIA, CNN: All this said and done, are you enthusiastic about President Obama? You were not for him in the Democratic primary four years ago.

PAUL KRUGMAN, NEW YORK TIMES: Right. I mean, we're a long way past where I think enthusiasm is the appropriate emotion for anything here.

But he's learned a lot. And, you know, his heart's always been in the right place, and I believe his head is now in the right place. And you certainly -- of course, I can't do endorsements, right? It's a Times rule. So you have no idea who I prefer in this election.


But he certainly is talking sense about the economy, and Mitt Romney is talking utter nonsense. And you really do worry. In effect...

ZAKARIA: What is the single biggest piece of nonsense that Mitt Romney...

KRUGMAN: Mitt Romney is saying basically that spending cuts are how we're going to get to prosperity. Mitt Romney is saying, see what's happening in Greece and in Portugal and in Spain and in Ireland; let's do that here.

Boy -- you know, we've just had a massive test, human experimentation on a massive scale, in effect, alternative doctrines of economic management. We've just seen which doctrines are disastrous. And the Republican platform is, let's put that doctrine that has just caused collapse in Europe -- let's put that doctrine into effect right here in America.

As NewsBusters has been reporting for months, shills like Krugman and Zakaria have been continually making this same false accusation as they dishonestly withhold from the public that most of the countries in Europe including those named above raised taxes as part of their attempts to balance their budgets. In so doing, they exacerbated the economic woes in their nations.

Take Greece for example. In 2010, the highest tax bracket paid was 40 percent. In 2012, the top bracket will pay 45 percent with increases to what virtually all wage earners will pay. That nation also raised alcohol and tobacco taxes in 2010 as well as property taxes in 2011.

Are any of these tax hikes part of Romney's economic plan?

Of course not, but by ignoring these as being a huge part of Greece's plan, Krugman can claim it is similar to what the Republican presidential candidate wants to enact here.

As for Portugal, Spain, and Ireland, these countries have also increased taxes in their failed attempts to balance their budgets.

This all raises an important question: which of the two remaining presidential candidates wants to raise taxes?

As the key to Obama's economic plan is hiking taxes on the so-called rich, and Romney wants to lower taxes, it is the current White House resident's plan that more closely resembles what's been done throughout Europe.

Shouldn't journalists discussing this matter have some requirement to explain this?

I know. I know. I'm kidding myself.

Unemployment Taxes Stimulus Social Security Regulation Recession National Debt Medicare Housing Budget Banking/Finance Bailouts Economy 2012 Presidential New York Times CNN Video Fareed Zakaria
Noel Sheppard's picture

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