Paul Krugman Defies the Media and Calls Out Paul Ryan’s Budget Fraud


In an age when the mainstream media treats fiction and fact as equal, Paul Krugman confronted the Romney campaign today and called the Ryan budget a fraud.

Video from ABC News:

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Here is the transcript from ABC News:

WILL: The president has had a lot of discretion and used it vigorously with — not just with Solyndra that Mr. Romney went out to dramatize this week,

but this week the Wall Street Journal had a long article on $1,260,000,000 invested in car batteries for electric cars. Now, there’s a big supply of the batteries; there’s a small supply of the cars. Complete mismatch and lots of money lost.

On another matter, I didn’t hear a robust answer to George’s question. Where does the governor stand, Governor Romney, on the Ryan plan? Does he endorse it?

FEHRNSTROM: Oh, he’s for — he’s for — he’s for the Ryan plan. He believes it goes in the right direction. The governor has also put forward a plan to reduce spending by $500 billion by the year 2016. In fact, he’s put details on the table about how exactly he would achieve that. So to say he doesn’t have a plan to — a plan to restrain government spending is just not true.

KRUGMAN: Can I say, the Ryan plan — and I guess this is what counts as a personal attack — but it isn’t. It’s not an attack on the person; it’s an attack on the plan. The plan’s a fraud. The plan is a big bunch of tax cuts, some specified spending cuts, basically for poor people, and then a huge magic asterisk which is supposed to turn into a deficit reduction plan, but, in fact, if you look what’s actually in it, it’s a deficit-increasing plan.

And so to say that — just tell the truth that there is really no plan there, neither from Ryan, nor from Governor Romney, is just the truth. That’s not — if that’s — if that’s being harsh and partisan, gosh, then I guess the truth is anti-bipartisanship.

FEHRNSTROM: So may I ask you, Paul, do you prefer the president’s plan?

KRUGMAN: Oh, yeah. I mean, the president — at least it’s — you know, I don’t approve of everything, but there are no gigantic mystery numbers in his stuff. We do know what he’s talking about. His numbers are — you know, all economic forecasts are wrong, but his are not — are not insane. These are — these are just imaginary.

Paul Krugman has been making his opinion of the Romney supported Ryan budget clear for a long time. What is interesting is that unlike the rest of the mainstream media, Krugman had the guts to call out the fraud that is the Ryan budget to the face of one of Romney’s top campaign advisers Eric Fehnstrom a.k.a. Mr. Etch a Sketch.

Usually, there is no one on the Sunday shows that dares to call out the flaming pile of trickle down science fiction that is the Ryan budget. The common behavior of the media when they discuss the Ryan budget is to let the lies flow and act like they have the same merit as the facts. It is refreshing that Krugman wouldn’t play the mainstream media game. He still believes in the difference between fact and fantasy, and most importantly is willing to fight for the distinction between fact and fantasy.

There are many on the left who still believe that campaigns should be contested based on facts. Their faith and conviction in facts to educate and move voters to make the best choices is noble, but it isn’t reality. Reality is that the nation has one political party that has concocted a budget based on ideological dreams, and the trickle down fairy waving her magic wand and balancing the budget.

On the other side, Democrats have facts, but the reason why our national political inertia has been stopped dead in its tracks is because there is no middle between real world fact and Republican fantasy. There can be no compromise with the Ryan budget, because Paul Ryan’s plan rejects facts in favor of fiction. Facts can’t win the day, because Republicans are disputing the existence of any and all facts.

The mainstream media have been the chief enablers and creators of the false equivalency between Republican fantasy and fact. What makes Krugman different is that he doesn’t buy into the media’s false equivalency.

Facts are facts. Fiction is fiction, and his Nobel Prize is evidence that Paul Krugman knows BS when he hears it.

14 Replies to “Paul Krugman Defies the Media and Calls Out Paul Ryan’s Budget Fraud”

  1. I really find myself liking this Krugman guy, he seems to speak with both conviction in his ideas and common sense in his thinking, as opposed to the two campaign advisers giving everybody the typical politician runaround (particularly Fehrnstrom). George Will, I respect him, I’ve seen him a lot on the news, but the guy isn’t an economist in an election year when the only thing that should be in play is the economy. Of course, because most Americans respond mostly to mud-slinging, emotion-inducing lies in Super PAC ads, there’s no guarantee the budget plans for either candidate will make one lick of difference.

  2. Paul Krugman knows better than to believe in ‘cut taxes, abolish regulations and then a miracle happens’ budget plans

  3. If a bunch of Okie Railroaders can figure that out you guys in the media must have slept through your Civics and US History classes. Will Rogers was right. “I don’t write the jokes I just watch the politicians and report the facts”. That goes for you people the media also.

  4. Krugman always tells it like it is. He could be a bit more aggressive, but he is the only guy with access to MSM that calls GOP bullshit. Give him another Nobel.

  5. GOP traitors in the Congress have been intentionally destroying the economy since the disastrous American stupidity of 2010.

    Amerikkka put filth in the congress and GIGO reigned supreme.

  6. I only wish the President would listen to Krugman and Reich. They have been right on target since the beginning. He has a bunch of Wall Streeters advising him so they make sure that everyone there is covered. He’s a centralist but now he’s more right than central. Krugman has pointed out these things since the 1st yr of the Obama Administration. Now we have “The Big Bucks” leading the way right back to the old days. Krugman is always spot on.

  7. We have all that now. Look what its done for us? I’ve been to the Romney site to read his plan. There is no plan. Its all a repeat of the same crap that put us herein the first place – only more of it. Trickle down has NEVER worked. Bush did not enforce regulation and gave tax cuts – and here we are. They’ve proven they can’t be trusted and Romney want to give them more? How stupid does he think we are? Wait ~ half the country thinks we are stupid so we have a BIG fight on our hands.

  8. I couldn’t have said it better; both men named in your post are at the top of their game and know what we are headed for if we don’t listen to them.

    Oh well…as the “Chief” in the movie “Burn After Reading” said (a quirky Cohen Brothers film),

    “…Ah, Geezzz, what a clusterf*ck…oh well, get rid of the bodies and pay them what they want”.

  9. Krugman like Kevin Phillips. No bs.
    Republican no new tax nonsense took our debt from 1000 to 10000b 1980-2009.
    In that period Wealth was redistributed.
    Today top 10% own 73% Net Wealth-83% Finanial Wealth and take 50% of individual income.
    Today we rank in oecd nations as #2 least taxed; #2 least tax on corporations and #4 inequality.
    All in 20 years of 3 conservative presidents

    Hire R if you want high unemployment plus debt
    Republicans–Spend & Borrow Let Kids Pay Tomorrow
    Democrats–Spend but Tax=Pay your way

    clarence swinney Lifeaholics of America
    burlington nc

  10. Democrats let R attack Obama.I resent tht lack of loud noise. Obama has tried hard to be good for all the people in face of opposition whose only goal is to destroy him. How can we reward them when they went agains things good for America just to destroy a President. It is a disgrace.

  11. Budget–Lookie at Bush–after Clinton great 8 years
    CLINTON TO BUSH TO OBAMA
    Who Dug the Deep Hole? Who Fumbled the ball?
    Numbers rounded

    Clinton left Bush an 1800B Budget
    Bush Left Obama a 3500 Budget

    Clinton left Bush a 240B Surplus as far as the eye can see
    Bush left Obama a 1400B Deficit as far as the eye can see

    Clinton left Bush 5,700B of Debt
    Bush left Obama 11,800B of Debt

    Clinton left Bush a 237,000 net new jobs created per month
    Bush left Obama a 31,000 lowest number since Hoover.

    Clinton left Bush 17 Million Manufacturing Jobs
    Bush left Obama 11 Million Manufacturing Jobs

    Clinton left Bush a 10,800 Dow
    Bush left Obama an 8028 Dow

    Clinton left Bush Peace on Earth Good Will From Most Men
    Bush left Obama Hell on Earth Two disastrous wars. Enmity of 1500 Million Muslims

    Clinton left Bush a President most highly rated of any peacetime President in Asia, Africa, Europe.
    Bush left Obama the most hated President in history
    Bush left Obama an Housing Tsunami and Financial Volcano
    Bush left Obama, in 2008, an 8500B Bail out commitment Yes! 8500 not just 700
    Bush left Obama his Takeover of Fannie/Freddie, AIG, and first bailout of Chrysler
    Bush increased maximum loan by Fannie/Freddie from $153,000 in 2000 to $300,000 then to $729,000
    That is how F&F got stuck with so many toxic mortgages. Bush gift to Big Bank pals.
    Bush increased FDIC maximum deposit coverage from $100,000 to $250,000. Help the rich.
     clarence swinney–political historian–lifeaholics of america burlington nc
    author-Lifeaholic–Life story of Workaholic failure to Lifeaholic success
    Best seller list in haw river nc population 200 and growing
    comments welcom facts -numbers not opinion

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