Scarborough: Let me just say though, George Bush over the past eight years had the most disastrous spending policy. They decided to cut taxes. They decided to increase the deficit. They decided to increase entitlement spending while they were fighting two wars. They made no tough decisions what so ever. You can't say that that's the traditional conservative approach to economics. It was a disaster and I think we can all agree with that can we not?
Krugman: You've got some mythical image of what a modern conservative is. Reagan increased spending while cutting taxes. Bush increased spending while cutting taxes... Who is your ideal here?
Krugman follows with giving us a dose of reality from Scarborough's talking points about how we were just so full of bipartisan love and that worked so well while Clinton was in office.... and calls what happened while he was President and Republicans controlled the Congress what it was...gridlock. He manages to get Scarborough to admit that we need some bold steps now if we're going to fix the mess we're in. I don't think bold is what we're going to get as long as the Republicans feel obstructing is better for them for political purposes than actually fixing our economy.
I really enjoyed watching Paul Krugman on Morning Joe today, responding to the paid deficit hawkery of Very Serious People Ed Rendell and Richard Haas. (Watch for the return of the invisible bond market vigilantes!) He talked about why there's Read more...