Outside that bubble, a fair number of people have noticed that Keynesian economics has performed spectacularly in the crisis - it successfully predicted that deficits wouldn’t drive up interest rates, that monetary expansion wouldn’t be inflationary, that austerity policies in Britain and elsewhere would hit economic growth. And no, don’t tell me that Keynesians predicted that the Obama stimulus would produce full employment; serious Keynesians, like me, were more or less frantically warning back in early 2009 that the stimulus was too small. But in Ryan’s world everyone knows that Keynesian economics has failed.



If I say that Paul Ryan’s mother was a hamster and his father smelt of elderberries, that’s ad hominem. If I say that his plan would hurt millions of people and that he’s not being honest about the numbers, that’s harsh, but not ad hominem. And you really have to be somewhat awed when people who routinely accuse Obama of being a socialist get all weepy over him saying that eliminating protections against pollution would lead to more pollution.