By PAUL KRUGMAN; Published: September 9, 2012
Does anyone remember the American Jobs Act? A year ago President Obama proposed boosting the economy with a combination of tax cuts and spending increases, aimed in particular at sustaining state and local government employment. Independent analysts reacted favorably. For example, the consulting firm Macroeconomic Advisers estimated that the act would add 1.3 million jobs by the end of 2012.
There were good reasons for these positive assessments. Although you’d never know it from political debate, worldwide experience since the financial crisis struck in 2008 has overwhelmingly confirmed the proposition that fiscal policy “works,” that temporary increases in spending boost employment in a depressed economy (and that spending cuts increase unemployment). The Jobs Act would have been just what the doctor ordered.
But the bill went nowhere, of course, blocked by Republicans in Congress. And now, having prevented Mr. Obama from implementing any of his policies, those same Republicans are pointing to disappointing job numbers and declaring that the president’s policies have failed. Continue reading “Obstruct and Exploit”
By PAUL KRUGMAN
Published: September 2, 2012 637 Comments
Fred R. Conrad/The New York Times
Remember Rosie Ruiz? In 1980 she was the first woman to cross the finish line at the Boston Marathon — except it turned out that she hadn’t actually run most of the race, that she sneaked onto the course around a mile from the end. Ever since, she has symbolized a particular kind of fraud, in which people claim credit for achieving things they have not, in fact, achieved.
And these days Paul Ryan is the Rosie Ruiz of American politics.
This would have been an apt comparison even before the curious story of Mr. Ryan’s own marathon came to light. Still, that’s quite a story, so let’s talk about it first.
It started when Hugh Hewitt, a right-wing talk-radio host, interviewed Mr. Ryan. In that interview, the vice-presidential candidate boasted about his fitness, declaring that he had once run a marathon in less than three hours.
This claim piqued the interest of Runner’s World magazine, which noted that marathon times are recorded — and that it was unable to find any evidence of Mr. Ryan’s accomplishment. It eventually transpired that Mr. Ryan had indeed once run a marathon, but that his time was actually more than four hours. Continue reading “Rosie Ruiz Republicans”