Brad DeLong's Semi-Daily Journal (2004)

Because you're not Jon Stewart.

At the end of the day, Bush really doesn't have much else to offer voters on domestic issues besides "tax cut, tax cut, tax cut!" His policies have clearly been steering the country for catastrophe, and even some of his hard-line supporters realize this. So his only hope is to pander to short-term self interest--in a sense bribing the voters with a miniscule payout--hoping that the tidal wave of fiscal disaster that's towering over them won't be noticed.

When will you stubborn, arrogant liberals realize that recent research has proven conclusively that Laffer curve actually is monotonically decreasing, and therefore massive annual tax cuts are in fact the ONLY way to fiscal health?!! [ :) ]

"It allowed Bush enormous exposure to the millions of NASCAR fans who have become one of this election year's most prized voter profiles."
Is this part true--'most prized voter profiles'? And does it mean that those of us that can watch (500 miles!!! of loud noisy) cars going around in circles are indicative of the mind set of America?
Please say it isn't so. This is something that CNN can say to justify the price of commercials right?
It reminds me of the other Bush (caricatured by Gary Trudeau) joy-riding in his gas-guzzling speed boat in the midst of an oil price crisis.
I thought this detail: "But just after Bush left to take the stage for a "conversation" with NuAir executives, employees and local business leaders, the line was deserted. " was telling. The workers, not caught up in any genuine excitement, had better things to do.

that Laffer curve actually is
I remember when I took Econ 1 at Berkeley back in the day, I had Laffer's daughter in my section. She had to hire a tutor so she wouldn't flunk. She knew that what the prof. was spouting was leftist nonsense; she just didn't quite know why.

The statement is not a joke. Bush fiscal policy is the joke.

Meanwhile Edwards beats up Kerry over pro-NAFTA vote.

When will you stubborn, arrogant liberals realize that recent research has proven conclusively that Laffer curve is monotonically decreasing. Cool!!

Let's pursue this further!!

So let $\tau$ be the tax rate, and $Y(\tau)$ gdp resulting at that tax rate.
Government receipts are $\tau Y(\tau)$. Therefore for any positive value of $\tau$, by the Bush monotonicity assumption,

$\tau Y(\tau) \leq 0 Y(0) = 0$,

so for any positive value of $\tau$, $Y(\tau) \leq 0$.

No wonder Bush keeps repeating this nonsense!! He must believe a positive tax rate leads to negative GDP.

Well, if Bush does manage to get re-elected then America probably really is doomed, along with whatever other countries Bush decides to conquer. I hope that Americans will not disappoint again in Novembre.

When I was a child I lived in a glass house so I cannot throw stones. I hated it when my uncle took me to the county fair to watch the car races, but I did like the destruction derbies. On pro wrestling, I was mixed. I liked it better after I was old enough to realize it was fixed, since then it did not mess with my sense of plausible reality so much. I do agree with Mark Twain on golf, regardless of my relatives' efforts to make me like playing it.
So, whatever some posters think of people who watch NASCAR, or even worse, who might sit through a destruction derby and enjoy it, that doesn't mean we can ignore them.
A poster on the next thread put up what I think is a very dishonest piece by Feldstein saying everything will be A-OK just like Bush says. I think it is more important to answer pieces like that than make fun of those of us who might have, um, questionable taste in spectator sports.
So whether we think Bush's appearance today is joke or note, we have to make our case in way that will be understood by all voters.

Josh Marshall notes that CNN's homepage headline for this article was:

"Bush says Democrats would threaten fiscal health."

It does seem more like a headline from The Onion. Maybe they've merged their White House coverages to save some money.

In psychology, they call this sort of thing projection. It is a primitive defense mechanism to control subconscious impulses you don't want to deal with.

Public debt when Bush took office: $5.6 Trillion
Public debt today: $7.0 Trillion

At this rate Jr. will ring up more debt than the old man.

CBO estimates 04 revenue will be under 16%
CBO estimates 04 outlays will be 20%.
Bush thinks we should decrease revenue even more?
The math is clear. Mr. Bush is fuzzy.

Jim Rome has it right: repeatedly turning left is not a sport.

Bill is correct. The economy limps along on
massive deficits. Raising taxes will mean
less savings and consumption. Tax cuts are
now a narcotic; we need more and more just to
keep even. Bush has in effect changed the
metabolism of the economy. Off to my Swedish
lessons...

No, it isn't a joke. And it isn't a lie. It's a STORY.

Do you remember the "Calvin and Hobbes" strip in which Calvin demands the N-squared-plus-one'th reading of his accustomed bedtime story, despite his father's best efforts to wheedle him into listening to something--anything--else? No: "I WANT HAMSTER HUEY!"

... and so do Mr. Bush's people.

It is time to get beyond the "lie" category, the "joke" category, and even the "wtf?" category, none of which work, and adopt the story category; then focus like the proverbial laser beam on the demand for, and the consumers of, the stories.

It's time to balance the budget by abolishing all taxes. Apres moi le deluge and don't ask the gumint to hand out umbrellas to all you lazy liberals.

Watching Bush speak, or try to, causes me to ask, is he the first restrictor-plate president?

It's time to balance the budget by .... umm abolishing the budget!

...and start by cutting the military budget. We should consider changing our national symbol from the bald eagle to the blackhawk.

Reneging on the Treasury debt would save another $300B+ per year.

If it makes you feel better, my first reaction when I read the CNN.Com headline was to actually fall out of my chair laughing.

http://balta.blogspot.com

cstar: ...did you just use LaTeX in a blog?

How does the Democratic nominee sound-bite this?
How about: "Giving big tax breaks to millionaires is not a jobs policy?"

This is the same man who talked about the dollar being "strong, strong" just after it devalued by 30%.

Daniel

cstar: ...did you just use LaTeX in a blog?

Yeah. But that was part of the shtick. The Bush Laffer-curve monotonicity Lemma.

I thought it was pretty goddamn funny until I realized that a lot of morons will actually believe what he's saying. Here's a better headline:

"President Bush warned voters in Florida that the Democrats would not uphold the sanctity of the office of president by having sex in the Oval Office."

I would think a good strategery would be to hammer the fuzzy math line along with the actual numbers from the budget. It takes away 9/11 as an excuse, and using his own line against him is very reporter friendly (Picture Tim Russert, "You said Al Gore was using Fuzzy Math in 2000. Let's look at the current numbers").

Hey Bartolo- enjoy the privatized social security while your in good ol' Sweden.

P.S. Watch out for knife wielding bums.

LaTeX --the cleverness of some bloggers always amazes me!

Laugh out looooouuuudddddd!!!!!

"Why *am* I not laughing?"

Ugh, economists.

Me economist no more than ten percent.