Thursday, February 21, 2013

Alan Simpson and Bernie Madoff -

Krugman nails Alan Simpson (intellectual equal of Homer Simpson) and in doing so indicts the incestuous Beltway Journalist  crowd who love him:

"Simpson is, demonstrably, grossly ignorant on precisely the subjects on which he is treated as a guru, not understanding the finances of Social Security, the truth about life expectancy, and much more. He is also a reliably terrible forecaster, having predicted an imminent fiscal crisis — within two years — um, two years ago. Yet he remains not only respectable among the Beltway crowd; as Ezra says, he's lionized in a way that looks from the outside like a clear violation of journalistic norms:"

As an aside, we should scrap the term "Simpson-Bowles" in favor of "Bowles-Simpson" … because its a heaping pile of BS. 

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