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Tuesday, September 13, 2011

Congressional Republicans are worse than Jacob Weisberg imagines possible even when he takes into account the fact that they are worse than he imagines possible.

Opinions on whether tax cuts are stimulus spending differ. Jacob Weisberg does not have a point.

Weisberg wrote a generally good article "Republicans Vs Economics" but he made one gross blatant error, obviously when he tried to argue that not all powerful Republicans are know nothings, cynics or both.

That's not to say that everyone who rejects Obama's stimulus spending is a default-welcoming ignoramus. Libertarians or libertarian-leaners don't necessarily think stimulus won't grow the economy; they just worry that it will grow the government at the same time and that it won't ever shrink back. But they don't mind stimulus tax cuts, which reduce the resources available to government. Rep. Paul Ryan, for instance, the government-slashing chairman of the House budget committee, has argued that stimulus spending is an evanescent sugar high that produces no lasting economic benefit.

His standard was support for tax cuts as stimulus. His example was Paul Ryan. He argued that Ryan called "stimulus spending" sugar high economics. He should have checked. In fact, Ryan called using tax cuts as stimulus sugar high economics

From The Hill

“I’m not a Keynesian, so I don’t think sugar-high economics works,” the Wisconsin Republicans said at a policy discussion hosted by The Hill and sponsored by No American Debt, an advocacy group. “We’ve sort of proven this already, a number of times. Temporary tax rebates don’t work to create economic growth ..."

By Weisberg's chosen standard, the Congressional Republican who he claims is neither a cynic nor a know-nothing is one or the other (or both).

When will reporters learn that they sometimes have to choose between admitting that both sides don't have a point and making fools of themselves ?

Now I'm sure Weisberg would find this post puzzling. If I am not satisfied by an article entitled "Republicans Vs Economics" which asserts that many top Republicans want to hurt the country (in the short run) what would satisfy me ?

Simple, a journalist who does not assert that temporary extension of the payroll tax holiday is a spending increase not a tax cut. That is, a journalist who checks a source before paraphrasing from memory (or desperation for Ballance given the gross liberal bias of the facts).

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