Krugman the Magnificient
2. He says the Democratic "stimulus" spending plan is not nearly big ENOUGH.
3. He says Japan experienced a “lost decade” of deflation and stagnation in the 1990s — and the only thing that let Japan escape from its trap was a global boom that boosted the nation’s exports.
4. He has nothing to say about the story in his own paper that Japan's 1980s spending boom was a failure. (Probably wasn't big enough.)
5. He says "Count me among those who think that the president made a big mistake in his initial approach, that his attempts to transcend partisanship ended up empowering politicians who take their marching orders from Rush Limbaugh." (In other words, Obama should take his marching orders from Paul Krugman.)
6. He says Obama "must not shy away from pointing out that those who stand in the way of his plan, in the name of a discredited economic philosophy, are putting the nation’s future at risk. The American economy is on the edge of catastrophe, and much of the Republican Party is trying to push it over that edge."
In other words, those who do not bow down and worship Paul Krugman and his faith-based economic theory of huge government and massive deficit spending are, for all intents and purposes, traitors to their country.
What a great argument!