Friday, February 05, 2010

Krugmen's Reminder

Dovetailing nicely with the previous post is this reminder about lying liars and dastardly deceivers. Op-Ed Columnist - Fiscal Scare Tactics - NYTimes.com: "These days it’s hard to pick up a newspaper or turn on a news program without encountering stern warnings about the federal budget deficit. The deficit threatens economic recovery, we’re told; it puts American economic stability at risk; it will undermine our influence in the world. These claims generally aren’t stated as opinions, as views held by some analysts but disputed by others. Instead, they’re reported as if they were facts, plain and simple.

Yet they aren’t facts..."

2 comments:

billy pilgrim said...

don't forget the magic of compound interest.

Bob Harrison said...

Amen. And it doesn't take much to run-up some big numbers-- in either direction.