Another New York Times columnist came to the defense of the failure that is Bidenomics.
So-called economist Paul Krugman, known for having baffling takes on the economy, has again ignored the real effects of inflation in favor of propping up the Biden administration. In a tweet from July 27, Krugman posted a chart with the intent to show that while the GDP is increasing, inflation has been falling. However, he added, “Yes, underlying inflation [is] probably still above target, but still.” Are we supposed to just ignore the fact that prices have skyrocketed since 2021? No one is buying it, Mr. Krugman.
Bidenomics is a disaster, I tell you! (Yes, underlying inflation probably still above target, but still) 1/ pic.twitter.com/zV7DlVV288
— Paul Krugman (@paulkrugman) July 27, 2023
Krugman’s insane statement completely dismissed the harm done by inflation still ballooning “above target” and ignored the fact that on July 24, 2023 prices were 16% higher than at the beginning of the Biden presidency.
But Krugman’s been at this for a long time. “Paul Krugman has never met a growth in inflation rate that he does not embrace, and any policy that expands government and reduces individual rights is something that he supports,” MRC Business Vice President Dan Schneider said. “How are the American people, who are still suffering from the failures of Bidenomics, supposed to trust propaganda journalists like Krugman?”
In a follow-up tweet, Krugman commented on an alleged “gap between the media narrative and the reality” when it comes to economic growth. What “media narrative” is he talking about? So far, the legacy media, like Krugman, has run cover for Biden government propaganda despite the disastrous consequences of Bidenomics. Some of the more blatant liberal Bidenomics peddlers include CNN and MSNBC, both of which wrote or aired support for Biden’s economy. For instance, CNN tried to save face for Bidenomics by simply regurgitating the Biden administration’s ridiculous propaganda on inflation by pushing Americans to appreciate the current inflation numbers. Similarly, MSNBC’s Morning Joe fought back against poor public opinion polls on Biden’s economy by citing a slight increase in projected GDP by Morgan Stanley.
Echoing CNN and MSNBC, Krugman wildly claimed in the follow-up tweet that there was “much unanimity on a so-far wrong recession prediction.” Not even all of the columnists at liberal news outlets agree on this. The New York Times economic columnist Peter Coy is “still” predicting a recession either this year or in 2024, even criticizing Krugman’s economic “optimism.”
Has there ever been this great a gap between the media narrative and the reality? Has there ever been this much unanimity on a so-far wrong recession prediction? 2/
— Paul Krugman (@paulkrugman) July 27, 2023
But Krugman’s crazy defense of the Biden administration’s economic policy is nothing new. Krugman has routinely provided cover for Biden’s presidency, laughably flip-flopping in defense of Bidenomics from “Biden Boom” to a “Not-So-Bad Economy.” Further, in December of 2022, when inflation was soaring at 7.7%, Krugman ridiculously tried to push for the economy to “Declare Victory Over Inflation.”
Conservatives are under attack. Contact The New York Times at 800-698-4637 and demand that it distance itself from Krugman’s biased defense of Bidenomics.