New York Times economics columnist Paul Krugman has spilled much ink over the last year fawning over President Joe Biden’s blazing jobs market, and now here comes the boomerang.
In light of the latest bad news that the government vastly overestimated job growth — by a whopping 818,000 jobs — Krugman the blowhard lost all his air. That 818,000 figure is equal to about 30 percent of the jobs growth for the 12-month period ending in March 2024 and represents the largest revision in 15 years. Yet Krugman, during that twelve-month period, was caught up in his own self-medicated political high on how Biden was supposedly “presiding over the best job market America has seen in a generation — specifically since the boom of the late Clinton years” in an April 2023 op-ed. But that’s not the first time he hung himself out to dry like this. Just a few…
