Economist proposes “space alien” stimulus

(DeVries/Wikimedia)

In a tacit admission that the left is out of ideas on how to fix the economy, economist and New York Times columnist Paul Krugman recently proposed a new stimulus program in the form a military buildup to ward off an invasion by extraterrestrial aliens.  Drawing upon the history of the Great Depression and an episode of “the Twilight Zone,” Krugman postulated on CNN that government spending on military hardware to combat aliens would revitalize the U.S. economy in short order.  Krugman subscribes to the Keynesian belief that World War II and the debt-financed military buildup that followed finally ended the Great Depression after ten years of FDR’s debt-financed social programs failed to restart the economy.

 

In reality, the military buildup of the 1940’s and the New Deal stimulus programs were very similar.  The military draft that removed hundreds of thousands of workers from unemployment rolls had civilian equivalents in the Civilian Conservation Corps, the Works Progress Administration and other New Deal government organizations that hired workers for make-work projects.  Similarly, government orders for military hardware that busied factories were akin to New Deal construction projects commissioned by the Public Works Administration and the Civil Works Administration.

 

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Tags: alien, economics, economy, fdr, Keynes, new deal, space, stimulus, tax cuts, taxes, truman, Walter F. George