News & Politics

Paul Krugman Nails the GOP's "Existential Crisis"

Krugman says the so-called "debt crisis" we're facing is really a political crisis caused by the GOP, which is a big heaping mess of a disaster at the moment.

Photo Credit: Stephen Coburn/

Over at the New York Times, Paul Krugman shows no love for Republicans in his weekly column. No love at all.

In short, Krugman argues that the so-called “debt crisis” we’re facing is really a political crisis caused by the GOP, which is a big heaping mess of a disaster at the moment.

Some choice quotes:

“The modern Republican Party’s grand, radical agenda lies in ruins — but the party doesn’t know how to deal with that failure, and it retains enough power to do immense damage as it strikes out in frustration.”

“Why won’t the Republicans get specific [about solving the ‘debt crisis’]? Because they don’t know how. The truth is that, when it comes to spending, they’ve been faking it all along — not just in this election, but for decades.”

“The G.O.P. is lost and rudderless, bitter and angry, but it still controls the House and, therefore, retains the ability to do a lot of harm, as it lashes out in the death throes of the conservative dream.”

Tell us how you really feel!

In all seriousness, Krugman makes some important points. The election last month put the GOP’s out-of-touch version of reality on full display. It was a melt-down moment, in some cases literally, as evidenced by Karl Rove during Fox’s election night coverage.

And yet, these people still have political power over the country. Krugman’s prediction for how the next several years will shake out is not a pretty one: “the odds are that the next few years will be very, very ugly.” Great.

Lauren Kelley is the activism and gender editor at AlterNet and a freelance journalist based in New York City. Her work has appeared in Salon, Time Out New York, the L Magazine, and other publications. Follow her on Twitter.
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