Here He Goes Again

Krugman continues to assert that America isn't Greece and thus we should keep spending like drunken American sailors. And lo and behold, deficits are coming down:

"The U.S. economy has been growing since last summer, thanks to fiscal stimulus and expansionary policies by the Federal Reserve. I wish that growth were faster; still, it’s finally producing job gains — and it’s also showing up in revenues. Right now we’re on track to match Congressional Budget Office projections of a substantial rise in tax receipts. Put those projections together with the Obama administration’s policies, and they imply a sharp fall in the budget deficit over the next few years."

So thanks to Obama, deficits are falling sharply. That's what the reader will take away. However, a quick view of the charts from the CBO (see above) shows deficits falling to a de minimus $800 billion. So what's there to worry about? And the fact that deficits are then going to head up again? That's really not important- all you need to know is that thanks to Obama, deficits are going down.

And here's some great demagoguery for you:

"It’s an ill wind that blows nobody good, and the crisis in Greece is making some people — people who opposed health care reform and are itching for an excuse to dismantle Social Security — very, very happy."

So apparently Greece is making people "very, very happy" as they can further their Dr. Evil plans to dismantle Social Security. What a joke. Name a politician who has suggested such a thing. Think hard. In fact, the opposite is true, which is why Social Security is called the 3rd rail in American politics. A tiny handful suggest cutting benefits minimally, and of course it never gets close to getting done, which is why it's headed towards insolvency. Krugman's delusion is breathtaking. Why do people take this guy seriously?