Paul Krugman Wins Nobel Prize

American Paul Krugman won the Nobel economics prize on Monday for his analysis of trade patterns and location of economic activity.

[...]

Krugman was the lone of winner of the 10 million kronor (US$1.4 million) award, the latest in a string of American researchers to be honored.

Richly deserved. Now, here's what the Nobel Prize winner has to say about John McCain the "moderate" who admits he knows little about economics:

It's time for some straight talk about John McCain. He isn't a moderate. He's much less of a maverick than you'd think. And he isn't the straight talker he claims to be.

   Mr. McCain's reputation as a moderate may be based on his former opposition to the Bush tax cuts. In 2001 he declared, "I cannot in good conscience support a tax cut in which so many of the benefits go to the most fortunate among us."

   But now - at a time of huge budget deficits and an expensive war, when the case against tax cuts for the rich is even stronger - Mr. McCain is happy to shower benefits on the most fortunate. He recently voted to extend tax cuts on dividends and capital gains, an action that will worsen the budget deficit while mainly benefiting people with very high incomes.

   When it comes to foreign policy, Mr. McCain was never moderate...

That should tell you all you need to know about John McCain. And, by the way, you could say the same thing about Frank Wolf, another phony "moderate" in the McCain mold. Farewell Frank!

Comments