On 'This Week,' Paul Krugman Destroys Romney Surrogate, Calls Ryan Plan a 'Fraud'

http://crooksandliars.com/blue-texan/week-paul-krugman-destroys-romney-surro

June 03, 2012

Unfortunately for Eric Ferhnstrom, a senior campaign advisor to the Romney campaign, Paul Krugman (who's been on a tear lately) was on "This Week" Sunday morning to dismantle all of his vapid talking points.

First, he pointed out that government spending has been cratering since 2010 -- and openly mocked the idea that Mitt Romney has an answer to unemployment.

KRUGMAN: Well, the economy is weak. It's not terrible, but it's weak. The bitter irony here has to be for Obama, certainly for people like me, is that if the Republican answer is "let's slash spending, let's have low taxes," that's actually the policy we've been following. It's amazing, actually. Especially if you look at the last couple of years, what we've actually seen is sharply...

(CROSSTALK)

STEPHANOPOULOS: Let me show you -- we have a chart in your blog this morning.

KRUGMAN: Yeah, this is...

STEPHANOPOULOS: We created it. It shows the point you're making.

KRUGMAN: Yeah, this is real government spending, so it's federal, state and local combined, deflated, you know, adjusted for population growth and inflation, and it is plunging. It's plunging mostly because of cutbacks at the state and local level, because the aid that they were receiving in the stimulus has run out, but also because unemployment benefits have been expiring because Congress won't -- you know, Republicans in Congress won't extend them.

So in effect - and, by the way, if you extend that chart backwards, there's been nothing like this since the demobilization after the Korean War. We're actually practicing government austerity on a scale that we haven't seen in 60 years. It's not the president's policy. In effect, we've already got the policies that Republicans say they will impose if they take the election, and yet, of course, it may lead to the defeat of this president.

STEPHANOPOULOS: And that's the point Stephanie was making, so bringing it back to you, what would Governor Romney do right now -- not in the future -- right now, to get the economy moving again?

FEHRNSTROM: Well, it's not just, as Paul says, tax policy. That's part of it, of course, but it's also spending policy, it's regulatory policy. It's confronting China on their unfair trade practices. It's -- it's a whole -- it's labor policy, George.

The governor has laid out very detailed plans. People can go to mittromney.com and learn about them for themselves. But I think what we really have here...

(CROSSTALK)

KRUGMAN: ... ...I know from detailed plans and there is nothing there. There is not...

Brutal.

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