From Jim Gilliam's blog archives
Krugman vs. O'Reilly -- my clips, part 2

August 11, 2004 9:05 AM

Tony picked up my O'Reilly fisking, and posted it to Metafilter.

And Honest Dave sent me an email, taking me to task for not including this bit that the National Review dug up from Krugman's 4/22/03 column:


Aside from their cruelty and their adverse effect on the quality of life, these cuts will be a major drag on the national economy. … it’s clear that the administration’s tax-cut obsession isn’t just busting the budget; it’s also indirectly destroying jobs by preventing any rational response to a weak economy.

Here was my response:

I struggled with this one. I watched what they said over and over, and I decided that there was a fundamental difference between what Krugman (an economist) and O'Reilly were talking about. Krugman was saying quite specifically that he never said the tax cuts would cause a recession. This is in fact true. He did say the tax cuts would be a drag on the economy, specifically because they were not the most efficient way to create jobs, but he never said it would lead to a recession. For an economist, a recession is a very specific economic event, but O'Reilly then tried to browbeat him into redefining what a recession is. Notice the term "drag", that's not the same as "backward", it's just not moving forward as quickly as it should, which is Krugman's entire point -- that there were better ways to stimulate the economy.

So I didn't include it. Feel free to disagree with my decision.

Watch my clips in Quicktime (56k, 200k), read the transcript of the show, or download the entire show.

More from the archive in Bill O'Reilly, Lies and Deceit, Outfoxed.

Krugman vs. O'Reilly -- my clips, part 2 (08.11.2004)

Next Entry: This is the Revolution (08.11.2004)
Previous Entry: KGNU radio interview (08.10.2004)

Read the 1 comments.

foov2:

Krugman was absolutely right. The tax cuts did not create jobs. Bush is the first president to lose jobs since Hoover. If it wasn't for the aggressive cutting by the Fed, we would be in a depression. Nevertheless, even the Fed cuts have not caused companies to hire, except in India and China.

Wed Aug 11 2004 10:08 AM


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