Limbaugh attacks Paul Krugman, "who looks like a ferret to me"
February 05, 2010 1:11 pm ET
From the February 5 edition of Premiere Radio Networks' The Rush Limbaugh Show:
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and Rush is fantasizing about gerbils.
A guy who takes such care to remain physically fit and trim is certainly one to comment on someone else's appearance.
Krugman's looks don't have anything to do with his economic advice and expertise.
But more importantly in the clip, Limbaugh distorts what's going on in the PIIGS countries. He suggests that they are going to default. There are minor concerns that IF they default, it would be a worldwide economic problem. But there's no real concern for that, given what will happen. And on top of that, he's trying to fearmonger that OUR deficits are equally as concerning, and that's totally bogus.
Our deficits, as a percentage of our GDP, are troubling but not deadly, but he implies that we should be as worried about the USA as we are about Greece. Totally bogus.
if not:
ok. keep on defending racist pigs like limbaugh....hope you can sleep at night
They are in rough shape, for sure. Some economies that weren't so good used the cover of the Euro, which was stabilized by the German's great economy, to borrow more than they should have. Those economies, Portugal, Spain, Ireland and Greece (and maybe Italy too, and so PIIGS) are struggling right now. But the ECC will NEVER, ever, let those countries default on their loans.
So, Limbaugh's attack on them, and then trying to link their weaknesses with our deficit spending (things that shouldn't be linked or even really compared since they are such different things) is bogus from the start.
There are times when deficit spending is 100% okay and desireable. The deficit spending that Obama did fits that mold. Now, the deficit spending that Bush did? That was bad, because we shouldnt' have had 2 tax cuts, one while we were waging war. We shouldn't have had tax cuts continue after it was shown that we were getting into dangerous deficit territory. We shouldn't have gone to war in Iraq - that was unnecessary. And we shouldn't have passed the Medicare Prescription Drug bill without fully funding it.
Limbaugh doesn't have a leg to stand on, and as a result, he resorted to a personal attack about how Krugman looks, which is never appropriate!
Greece already has gone under their debt now supercedes their GDP. Portugal is soon to follow and the contasion is spreading to Spain. The only countries that will survive this are Switzerland and Norway.
Hmmmm, how do Switzerland and Norway differ from other European nations? There's a head scratcher.
When you sacrifice your sovereignty others can drag you down.
The point is that running big deficits in the face of the worst economic slump since the 1930s is actually the right thing to do. If anything, deficits should be bigger than they are because the government should be doing more than it is to create jobs.
Now, he does go on to say that long-term deficits are problematic, and the long-term solution should not include record deficits. He also wrote:
...dubious allegations, not backed by hard evidence, are being reported as if they have been established beyond a shadow of a doubt (emphasis mine)
Here is the entire article
This is the perfect way to describe the drivel that Rush spews. Everything is black and white to him; there is no middle ground. Economics is a complex field, and one that is difficult to predict. I wish Rush understood the limits of his own knowledge. . .
But I'm pretty sure Rush's fans are going to believe Rush, because, you know, it's RUSH!
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Pass the live frog, please. *burp*
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LOL
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LOL
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LOL
A. A Nobel-prize winning professor of economics at Princeton University and LES?
or
B. An ex-prescription drug addict Southeast Missouri State University drop out Radio DJ??