A NOBEL PRIZE AND STILL PUTTING OUT NONSENSE

Paul Krugman the Nobel prize winning economist says deficits saved the world.  They could but not the kind we are doing.  The Trillions we are throwing at the financial institutions will not do the trick.  They are sitting on that money and not lending it out.  Actually they have been using it to run up the stock market to try and get their books healthy.  It’s not doing anything for us.  The half of the stimulus package that is for us is no more than 20% spent and will be 2011 or so before it takes full effect.   By that time the debt will be 20 Trillion and the interest on the debt will be 1 Trillion.    If tax collection remains about the same 2.5 trillion dollars the cuts will be very painfull.    It ain’t gonna work, Paul, get some new oil for your slipstick

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