Krugman, Ryan, Peterson, Stockman and the Debt

In my April 5 post I told of an upcoming panel discussion including economist and columnist Paul Krugman and David Stockman, a former budget director for Ronald Reagan, on Week End with Stephanopoulos.  While I had planned to return to a discussion of this encounter, it struck me after watching it twice that it was not worth it.   Had it just been those two it might have been, but there were three other panelists as well which fractured the nature of the discussion to the point where no points were really developed, just differences emphasized in a scattered fashion.

This is a common problem with such so-called discussions on TV.  They seldom lead anywhere due to the complexity of the issues and the short amount of time that the programming allots.   I thought Chris Hayes did the best of anyone with that kind of format, but he had two two-hour programs on weekend mornings to do it.  Now MSNBC has moved him to a one hour show late week day afternoons and, while no doubt  a promotion, I believe his program suffers as a result.

I’m not here just to gripe, though  (I already did that in a couple of posts last May when Krugman also happened to be on  Stephanopolis).  Instead I think it worthwhile to develop some background information on these issues, so  that I can refer readers to it when writing related posts, as I am about to do right now.

The Governomics page, linked near the top of this home page, gives a thumb nail sketch of my present take on the nature of the huge fiscal problems that appear in store for us over the next 10 to 25 years, let’s say.  Tied to that is a sub-page where I describe three different assessments/approaches to these fiscal problems, one of them with liberal Paul Krugman as the poster boy, another with Paul Ryan and a third with fellow conservative Pete Peterson, probably the least known of the three but by far the richest and spends his money to be influential.  I also include David Stockman, who seems to fit well in the Peterson camp.  This seems a more fruitful way to broach these issues  than a return to the Stephanopoulos verbal merry-go-round.

Krugman vs. Stockman this Sunday on This Week

While I was going to wait until Tuesday to do my next post, I wanted to alert everyone  that Paul Krugman, NY Times columnist and Nobel Prize winner in economics, and David Stockman, a budget director for the Reagan administration (who quit because he took federal deficits more seriously than Reagan did), are slated to be on This Week with George Stephanopoulos this Sunday (9:oo a.m. on ABC in San Diego;  check your local listings.)

English: Paul Krugman at the 2010 Brooklyn Boo...

English: Paul Krugman at the 2010 Brooklyn Book Festival. (Photo credit: Wikipedia)

It is a verbal prize fight in the offing as each sees our fundamental fiscal problems very differently and have exchanged written barbs resulting from Stockman’s publication of The Great Deformation:  The Corruption of Capitalism in America.

They figure to deal with the large fiscal issues that face us in contrast to the congressional pie fights over just keeping the government running.

David Stockman

David Stockman (Photo credit: New America Foundation)

There figures to be a lot of heat and perhaps some light shed through what should be an interesting verbal battle. Actually I wouldn’t mind if a punch or two is thrown, just to break the tension with some laughs.  Old men fighting is always funny.

Those interested in some background information can click the link to the Krugman blog in my Blogroll to the left and scan down his posts.   And/or  check out the article below.

Can’t wait for the opening bell!