Economist Krugman replies to Representative Ryan’s dubious assertions about employment, health care” and its relationship to the Republican view of Europe
Mr. Ryan made highly dubious assertions about employment, health care and moreAmerican conservatives have long had their own private Europe of the imagination — a place of economic stagnation and terrible health care, a collapsing society groaning under the weight of Big Government. The fact that Europe isn’t actually like that — did you know that adults in their prime working years are more likely to be employed in Europe than they are in the United States? —
truth was that in 2006-2007 Ireland was running a budget surplus, and had one of the lowest debt levels in the advanced world. So what went wrong? The answer is: out-of-control banks….
balanced budgets won’t protect you from crisis if you don’t effectively regulate your banks — a point made in the newly released report of the Financial Crisis Inquiry Commission, which concludes that “30 years of deregulation and reliance on self-regulation” helped create our own catastrophe
Click on the following for Mr. Krugman’s editorial: Their Own Private Europe - NYTimes.com