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Paul Krugman’s “Solution” to the U.S. Deficit: Death Panels and VAT

Wednesday November 17th, 2010   •   Posted by David Theroux at 11:15pm PST   •  

In a roundtable discussion on the U.S. Debt Reduction Commission, Nobel Prize laureate and hyper-Keynesian economist Paul Krugman came clean on his view on ABC’s “This Week with Christiane Amanpour,” regarding how to reduce the gigantic federal deficit that he has been so supportive in seeing created: death panels and a national Value Added Tax (VAT). Krugman has been among the leading figures in attacking Sarah Palin’s warnings that Obamacare, without the use of free-market pricing, would necessarily include “death panels” to ration medical treatments for the seriously ill and aged. Neglecting to propose any cuts in spending or taxes, Krugman stated the following:

Some years down the pike, we’re going to get the real solution, which is going to be a combination of death panels and sales taxes. It’s going to be that we’re actually going to take Medicare under control, and we’re going to have to get some additional revenue, probably from a VAT. But it’s not going to happen now.

The Obama healthcare plan passed by Congress in 2010 includes government-run healthcare committees with sweeping powers, including the power to engage in competitive pricing and cost analysis, a system Britain uses that has led to rationing of medical care for the elderly.

Later Krugman, in realizing that his remarks would be met with outrage, tried to cover his trail on his blog for the New York Times, “The Conscience of a Liberal,” but in the process, has only dug himself in even deeper. . . .

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November 2010