Smashing Republican Economic Talking Points 101 via Krugman

By GottaLaff

Paul Krugman obliterates the rightie spin. Here's a summary:

1.The Obama plan will cost $275,000 per job created

[T]hey take the cost of a plan over many years and look for jobs created in the first year. [Krugman]:

"The true cost per job of the Obama plan will probably be closer to $100,000 than $275,000 — and the net cost will be as little as $60,000 once you take into account the fact that a stronger economy means higher tax receipts."

2. Cutting taxes is better than government spending because taxpayers, not bureaucrats, are the best judges of how to spend their money.

[Krugman]:

"It’s clear that when it comes to economic stimulus, public spending provides much more bang for the buck than tax cuts — and therefore costs less per job created (see the previous fraudulent argument) — because a large fraction of any tax cut will simply be saved."

3. Barack Obama's chief economic adviser says monetary policy is better than fiscal policy in response to recessions. [...]

Dr. Krugman:

"It’s true that the normal response to recessions is interest-rate cuts from the Fed, not government spending. And that might be the best option right now, if it were available. But it isn’t, because we’re in a situation not seen since the 1930s: the interest rates the Fed controls are already effectively at zero."

Mr Krugman finishes saying that Republicans are throwing everything they have at Obama and hoping something will stick, and offering support to the new President over Obama's much reported "I won" statement to the GOP house representatives and asking the new President to stick with the plan.

Speaking of sticking, how about sticking it to these guys.