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Paul Krugman @paulkrugman
Total cost of that shortfall? Around $3 trillion. And elite opinion thought throwing away that $3 trillion was the prudent, responsible thing to do. Remember this when the usual suspects start whining about debt again 7/ — PolitiTweet.org
Paul Krugman @paulkrugman
How I think of it: throughout the Obama years there was a huge gap between what the economy could have been producing and what it actually produced; adequate federal spending could have eliminated that gap 6/ https://t.co/XAgKHaT9Dh — PolitiTweet.org
Paul Krugman @paulkrugman
In other words, absence of debt obsession made this recovery possible. And if we hadn't been hobbled by debt fears (and GOP sabotage), recovery from the last recession could have been quick too 5/ — PolitiTweet.org
Paul Krugman @paulkrugman
In particular, big government aid kept household balance sheets in pretty good shape; aid to businesses also limited "scarring". The cost was a big increase in federal debt — which has been no problem at all 4/ — PolitiTweet.org
Paul Krugman @paulkrugman
But while the peculiar nature of the recession made a V-shaped recovery relatively easy to achieve once the virus was under control (and if DeSantis etc don't bring it back in full), govt policy also contributed 3/ — PolitiTweet.org
Paul Krugman @paulkrugman
A lot of people were expecting another sluggish recovery like post-2008, although some of us did see this coming (this is from last May) 2/ https://t.co/AOCM6y1xAt — PolitiTweet.org
Paul Krugman @paulkrugman
Some more thoughts on Friday's employment report. The White House likes to focus on 3-month averages; for the past 3 months job growth at annual rate of 6.9%. That's right up there with 1983-4 "Morning in America" 1/ — PolitiTweet.org
Paul Krugman @paulkrugman
It's always true that some prices are rising more than others. But this is really extreme, and does suggest transitory bottlenecks rather than broad-based inflation pressure 3/ — PolitiTweet.org
Paul Krugman @paulkrugman
Combined, these three sectors account for less than 5% of the CPI — but more than 1/2 of inflation over the past three months 2/ https://t.co/JI1Udz5v5F — PolitiTweet.org
Paul Krugman @paulkrugman
Noodling around on recent economic numbers. It's really amazing how much recent inflation reflects just three things: used cars, hotel rooms, and airfares 1/ https://t.co/rrXweD6WkS — PolitiTweet.org
Paul Krugman @paulkrugman
So it's not just that one side of most important debates is arguing in bad faith; it's trapped in lies — as I said, con men imprisoned by their own con 6/ — PolitiTweet.org
Paul Krugman @paulkrugman
On economics, why does the right stick with creatures like Kudlow and Moore? Precisely because they have no professional reputation, so they can't be tempted to change their views in the face of evidence 5/ — PolitiTweet.org
Paul Krugman @paulkrugman
And it goes further back. Climate deniers won't be moved even as much of America and Europe burns, because they're *professional* climate deniers; they have nothing else to do with their lives 4/ — PolitiTweet.org
Paul Krugman @paulkrugman
People who bought into the Big Lie about the stolen election similarly can't step back 3/ https://t.co/O5mne39RgF — PolitiTweet.org
Paul Krugman @paulkrugman
DeSantis isn't stupid; he probably realizes what a disaster he's presiding over. But he staked his political fortunes on pro-Covid policies; if he were to back down now, even an inch, he'd have to find a new career 2/ — PolitiTweet.org
Paul Krugman @paulkrugman
This applies across multiple aspects of the partisan divide. The GOP is basically a party of con men who have become prisoners of their own con 1/ — PolitiTweet.org
David Frum @davidfrum
Republican anti-vaxxism offers a fascinating study of relationship between right-wing elites vs. rank-and-file. Eli… https://t.co/ASYvIciwZ2
Paul Krugman @paulkrugman
RT @CardiffGarcia: This is a *great*, simple, super clear explainer of New Trade Theory, in the context of its relevance to the global vacc… — PolitiTweet.org
Paul Krugman @paulkrugman
RT @nytopinion: “Health care isn't just about your health; it's also a more important employer than manufacturing, and a better source of w… — PolitiTweet.org
Paul Krugman @paulkrugman
It takes a global economy to fight a virus https://t.co/LaxtDzhAf2 — PolitiTweet.org
Paul Krugman @paulkrugman
Remembering how the previous crew put out reports saying things like "socialism is bad — look how expensive owning a pickup truck is in Sweden" 2/ https://t.co/5bhWEL7FSO — PolitiTweet.org
Paul Krugman @paulkrugman
Still find it weird to read such sober, sensible analysis coming out of the White House 1/ https://t.co/XQthuWXiTs — PolitiTweet.org
Paul Krugman @paulkrugman
RT @hshierholz: Leisure and hospitality grew by 380,000 in July. Over the last four months, leisure & hospitality has added 1.4 million job… — PolitiTweet.org
Paul Krugman @paulkrugman
I will not make a big deal about a monthly jobs report. I will not make a big deal about a monthly jobs report. But that was pretty impressive. If it had happened under Trump, they'd demand that he be made president for life. Oh, wait, they're doing that anyway. — PolitiTweet.org
Paul Krugman @paulkrugman
Also, when do right-wingers start blaming the Covid surge on critical race theory? Or has it already happened and I missed it? — PolitiTweet.org
Paul Krugman @paulkrugman
Excellent work, but the idea that facts can "put this to bed" is delusional. If people like DeSantis cared about facts, they'd be different people — PolitiTweet.org
Philip Bump @pbump
Pulled data and talked to government officials, organizations in Texas and outside groups to be able to put this to… https://t.co/A1SjEB3QrQ
Paul Krugman @paulkrugman
The infrastructure "pay-fors" are fake; it's really deficit spending. And that's a good thing! https://t.co/s361THRxHP — PolitiTweet.org
Paul Krugman @paulkrugman
Barely deserves a response; but fwiw New York, which has a lot of immigrants, only has 1/10th as many people hospitalized with Covid 2/ — PolitiTweet.org
Paul Krugman @paulkrugman
Has Ron DeSantis no sense of decency? No. Blaming the Covid surge in his state on ... Biden letting too many people cross the border 1/ https://t.co/9LgskGD7cw — PolitiTweet.org
Paul Krugman @paulkrugman
Seeing some people claiming that progressive outrage over Tucker Carlson paying homage to Hungary's authoritarian regime is coming out of thin air. Folks, my Princeton colleague Kim Lane Scheppele was posting about this on my blog *a decade ago* https://t.co/mrBCE2kxzH — PolitiTweet.org
Paul Krugman @paulkrugman
RT @jasonfurman: This piece by @MikeDorning is a nice motivation for the economic importance of infrastructure. https://t.co/maFZvC7mkC — PolitiTweet.org
