On Opinions in the Shorts: Vol. 35

On a Contrarian Deficit
I’m not wild about the size of the federal deficit or its growth rate; nor do I blame any one political party. Nonetheless, this Paul Krugman column made me think and think about the deficit in a different way.

On a Passing Giant
We get a chance to relive history and moments anytime a major public figure dies – and the ups and down in the life of Edward Kennedy was no different. He was both a saint and a sinner, but aren’t we all. As a local friend said to me, “He grew up late in life.” I was touched by the young Kennedy of today with their role and words during the Prayers portion of the service. I was touched by comments from Sen. Orin Hatch and Sen. John McCain. I smiled when Senator Hatch explained how he went to Washington to slay Kennedy and his likes, but instead got a true friend. I enjoyed seeing the former presidents seated together near the front because they only get together on special occasions. And I appreciated these columns by David Brooks and George Will.

On a Site of Remembrance
I can’t recall what I was watching to directed me to this site, but here’s a not-so-well-known site run by the government about terrorism and fights for liberty. With 9-11 approaching, this well-done site is worth noting.

On Confirmation by Columnists
Last week I commented on Afghanistan, and this week George Will writes an interesting parallel. Also, on more than one occasion I have mentioned that President Obama losing support from the center and the need for him to recapture the center.  (Most recent). Thank you David Brooks for your column confirming this.

On Real Men of Genius
The Bud Light “Real Men of Genius” radio commercials crack me up. Did you know over 100 have been made? Better yet, here’s a site with all of them. #32 causing me to lose it each time I hear it.

On Fight Songs & Nicknames
Kickoff to the college football season now opening, here’s a site for all college fans – a site with all the fight songs and spirit songs all schools in the major conferences.  This past post features a different look at school nicknames.

On a Lighter Note
Here’s a tune from One-String Willy who plays a guitar with one string.

5 thoughts on “On Opinions in the Shorts: Vol. 35

  1. I read the linked Krugman article. It was Keynsian economics explained with a happy voice. Essentially he was saying, “Don’t worry, really smart people have this under control.”

    John Maynard Keynes said that we should run deficits during recessions and depressions. We have been running deficits during the good times, that is why our debt is so high. Many people believe that government intervention in “bad times” only prolongs the recession and allows businesses that should have failed to stay in business. The businesses that should have failed remain in the economy and repress the introduction of more efficient competitors.

    In Krugman’s attempt to paint a rosey picture he has failed as a mathematician. Our current straight debt is $12 trillion and our GDP is about $14 trillion. That puts us at 86% today. Well over and well in advance of Krugman’s 70% by 2019.

    An inconvenient truth that Krugman fails to mention is that the federal government’s unfunded liabilities amount to another $60 trillion. Technically, they are not debt but the only way they will not become debt is if either the government decides not to pay them or revenues rise dramatically. For these liabilities to remain steady as a percentage of GDP our economy would have to grow by 20% every year. That will not happen.

    Is this confusing? Yes. That is the purpose of sleight of hand maneuvers.

    Like

    • Thersites,
      Keep in mind I didn’t say that I agreed with Krugman, it gave me something to consider. Remember, I’m a moderate pragmatist, not a blind-faith partisan.

      In terms of the statistics, as I like to say, take a position then find the stats to back it up … .thus stats can support any position.
      Thanks for the comment.

      Like

  2. Pingback: On Hands Monday Music « A Frank Angle

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