Friday, June 5, 2009

Palin’s D in Macroeconomics: Grade Inflation

We have known for some time that Sarah Palin does not know very much with respect to public policy issues in general and even she admitted to having received a D in macroeconomics. But I bet her college instructor is wandering how he gave her such high marks after seeing this.

Alaska governor Sarah Palin let loose Wednesday on the Obama administration for enacting fiscal policies that "fly in the face of principles" and "defy Economics 101." … "Since when can you get out of huge national debt by creating trillions of dollars of new debt?" Palin asked. "It all really is so backwards and skewed as to sound like absolute nonsense when some of this economic policy is explained."

We are in the midst of the worse recession in our lifetime with the employment to population ratio dropping to 59.7% - and NOW this Republican wants fiscal restraint?


Anonymous said...

She is not a very bright woman - the lights are on but there is no one home. D for Dunce is more apporpriate.

jamzo said...

her remarks were chosen to send a message to her's one of the standard GOP themes and it has been around since FDR times

dale said...

and of course the point of spending on stimulus and bailouts is not to "get out of huge national debt" as she says, but to get out of the worst recession and financial collapse since the Great Depression. so her contradiction is only in her own mind.

Anonymous said...

While I have no lov for Gov. Palin, I am far more peeved at economists who insist the we can grow our way out of deficits when history remain quite negative in that regard in the post-war period.

Rather than grading this idiot, economists should spend far more time seriously questioning the whole of their assumptions - which have only served to drag the entire planet into a hell hole.

The audacity of economists, who never shirk at offering some scheme or other at the expense of the nation - to aid in the patent impoverishment of working people, while pretending to speak for their interests, never ceases to amaze me.

Your observation is pure balderdash, technically correct, but historically invalid...

Anonymous said...

Let me get this straight: You wonder how she got as high as a "d" in macroeconomics and then you attack a comment she made about government spending being ineffective. And your proof, apparently, is that she wants restraint too late. HUH?

First off, how is "NOW" wanting restraint even remotely related to the grade she recieved? YOu set up your argument as though you're about to offer an outlandish statement of hers that proves ignorance - and yet all you offer is the flaccid "NOW?" That has no bearing on the validity of what she said - which, by the way, is proving more true every day.

Second, I'm not sure if you know this, but Palin wasn't part of the Bush Administration or the Clinton administration or any other administration that ran up the national debt. She was governor of Alaska.

I see this is a Keynesian Web site, one in which people think that taking money out of the hands of producers and putting it in the other end of the pond - in the form of political payoffs - to non-producers will somehow stimulate the economy. Didn't work in the Great Depression and hasn't worked here.

Therefore, Palin's comment was right on the money. You lose.

Brian Hayes said...

Sarah Palin fails where many fail, unable to know the difference between monetary and fiscal policy. More: She's stumping against government with a layman's Game Theory of optimal self interest and infinite trial and error. At least Greenspan apologized.