Jesus, the word “slashed” appears exactly once in the column and Boudreaux still fucks up the attribution. And averaging 2003-2012 is intentionally misleading. Can you think of anything (hint: real expensive) that was ‘off budget’ that went ‘on budget’? Hmm?
June 4, 2012 § 2 Comments
Elsewhere his column, though, Mr. Krugman suggests that he’s thinking back only to 2009. It’s true that such projected spending for 2012 will be down by just under five percent from its 2009 level, but this statistic is largely an artifact of the huge – nearly 11 percent in a single year – spike in such spending that occurred in 2009 over 2008. Compared to the average of such annual spending for the ten-year period 2003-2012, spending in 2012 is higher by 5.6 percent. More significantly, compared to the average of such annual spending for the decade leading up to the downturn (1999-2008), such spending in 2012 is higher by 17 percent.*
Mr. Krugman misleads your readers by asserting that real total government spending today, adjusted for population growth, has been “slashed.”