Staff Reports
In a recent interview with CNN’s Christiane Amanpour, economist Paul Krugman made a surprising claim about the state of the economy under the Biden administration. According to Krugman, the public is convincing themselves that they are poor, despite evidence to the contrary. He pointed to the fact that inflation has come down quickly and painlessly, with most measures showing it to be under 3%. In his words, this is a “Goldilocks economy.”
However, Krugman acknowledged that there are people who are struggling, but he attributed it to a “profound and peculiar disconnect” in people’s perception of the economy. He suggested that partisanship plays a significant role in how people view the economy, with Republicans giving it a worse rating than the economy in 1980, which had much higher unemployment and inflation rates.
As a conservative, it’s hard to take Krugman’s analysis seriously. While he admits that there are people hurting, he downplays their struggles by attributing it to partisanship and tribalism. It’s important to recognize that the rising inflation rate and the economic challenges faced by many Americans are real, and not just a product of political bias. Krugman’s dismissive attitude towards these issues only serves to undermine the experiences of those who are genuinely suffering under “Bidenomics.”
It’s clear that Krugman’s analysis is biased and out of touch with the realities faced by everyday Americans. We need a more objective and honest assessment of the economy, one that takes into account the real challenges faced by the American people. The public deserves better than partisan spin and dismissive attitudes from economists like Krugman.
