What I learned listening to Larry Kudlow

The Conscience of a Liberal--Paul Krugman

Going on CNBC isn’t much of a time cost — the Princeton TV studio is in the basement of the same building in which I have my office, and I can keep working on class notes until 15 seconds before going on air. But it does mean that for the few minutes before going on I have to listen to the screamers.

And what I learned today was that Larry Kudlow has adopted the full Treasury View — the view that government spending can’t raise demand because every dollar the government spends comes at the expense of an equal amount of private spending. Presumably he’s getting it from Heritage. So the Conintern — the vast right-wing conspiracy — has settled on a misunderstanding of the meaning of accounting identities as the basis for its opposition to, you know, actually doing anything to prevent Great Depression 2.0.

Paul, see what happened to Larry since he became a TV talking head? Maybe you should take note.

Among many things, Paul Krugman is also an Op-Ed columnist for the New York Times.