Republicans, because they tend to posture themselves as businessmen, tend to think they own the economic debate. Don't let them fool you - they own the debate insofar as they tend to win arguments that favor their pocketbooks.
Paul Krugman is the antidote I typically look for in such a debate. I had the fortune of being required to take two econ classes in my studies at SCSU, and while I didn't love the professors, I did learn a lot about the arguments economists often use in debate. Paul Krugman has become very adept at using textbook economic theory against its typical benefactors. His standard question is "Where's your model?" It's so rare that politicians ever show their math in economic decisions. Look no further than Scott Walker. Krugman's got a Nobel Prize in Economics, for good measure. He also tends to break things down in wonderful layman's terms. Case in point:
So, today, hat-tip to Paul Krugman for keeping them honest for one more day!Here’s the report’s explanation of how layoffs would create jobs: “A smaller government work force increases the available supply of educated, skilled workers for private firms, thus lowering labor costs.” Dropping the euphemisms, what this says is that by increasing unemployment, particularly of “educated, skilled workers” — in case you’re wondering, that mainly means schoolteachers — we can drive down wages, which would encourage hiring.
There is, if you think about it, an immediate logical problem here: Republicans are saying that job destruction leads to lower wages, which leads to job creation. But won’t this job creation lead to higher wages, which leads to job destruction, which leads to ...? I need some aspirin.
Let's also not forget: Dan Kapanke's getting recalled! Hallelujah for that, and kudos to all of our brothers and sisters who helped overcome the first hurdle down there in LaCrosse. Rumor has it that Hopper and Harsdorff are also on the cusp. Great news! Wisconsin will be ours!
