Free Markets, Free People

Daily Archives: February 6, 2013


Krugman: was he lying then or is he lying now?

My bet would be on “then”, because in a moment of exquisite candidness, Paul Krugman – the man who has said “What? Me worry?” about the deficit and the debt, who claimed ObamaCare would do what Obama promised, – has apparently been drugged and finally told the truth:

Eventually we do have a problem. That the population is getting older, health care costs are rising…there is this question of how we’re going to pay for the programs. The year 2025, the year 2030, something is going to have to give…. …. We’re going to need more revenue…Surely it will require some sort of middle class taxes as well.. We won’t be able to pay for the kind of government the society will want without some increase in taxes… on the middle class, maybe a value added tax…And we’re also going to have to make decisions about health care, doc pay for health care that has no demonstrated medical benefits . So the snarky version…which I shouldn’t even say because it will get me in trouble is death panels and sales taxes is how we do this.

Gee … everything everyone who has paid attention has been saying all along.  Middle class taxes (you have to shake your head at his “oh well” approach to a middle class tax.  A sales tax.  Perhaps the most regressive tax going).  Death panels. Etc.

But it’s safe now … selling his credibility and being a hack has landed Obama another 4 years.

Apparently he’s on a “resurrect Paul Krugman’s professional reputation” tour.

Not that it’s working.

~McQ


Another reason we’re in the mess we’re in: the rise of the professional politician

Another reason we’re in the mess we’re in is because of the rise of professional politics and politicians.  According to a recent study 46%  of the present Congress is comprised of lawyers.  That’s 68 times  the density of lawyers throughout the population. But law school for many has been or has become the jumping off point for life as a professional politician.

And so, as with our current president, we get a class of people who have never “done anything or run anything.”  The results predictable, just look around. For the most part, those who are our supposedly “leaders” haven’t a clue on how to proceed or how to “fix” what is wrong with this country.  They have little experience in doing much of anything else but getting elected. Execution, governing, management – all seem foreign to most of our political class.  So they rely on “experts”, mostly in academia or among their political connections, to advise them on how to proceed.

Ed Driscoll provides us with a great example of one politician who, after he left political life, realized how little he knew about extraordinarily important information, and how little experience he actually had where it counted. Former presidential candidate and longtime politician, George McGovern, decided to go into business after leaving politics. It was only then, after his business failed, he realized how little he knew about something as critical as what it takes in the business atmosphere he helped build to run a business.

George McGovern laments that after his experience in the bed-and-breakfast business he realizes that laws and regulations pertaining to small business are actually hurting the lower-wage workers whom he had tried to help during his entire political career. With his Stratford Inn in bankruptcy, McGovern now says:

In retrospect, I wish I had known more about the hazards and difficulties of such a business…. I wish that during the years I was in public office I had this firsthand experience about the difficulties business people face every day. That knowledge would have made me a better Senator and a more understanding presidential contender… To create job opportunities, we need entrepreneurs who will risk their capital against an expected payoff. Too often, however, public policy does not consider whether we are choking off those opportunities.

He is just one of many of this of this professional political class who have helped put us in this mess.

We should demand, as voters and citizens, that our politicians have real world experience before we allow them the privilege of representing us. We should end this era of politicians whose only real world experience concerning the effects of policy come from dormitory debates and untried academic theories.  And we should reject, out of hand, anyone who has “never done anything or run anything”, unless we find ourselves comfortable with the shape this country is in.

~McQ