May. 4, 2013

Paul Ryan gets 'Punked' and 'Debunked'

Astair & Rogers, Abbott & Costello, Lennon & McCartney AND Reinhart & Rogoff. What do all these pairs have in common?

Each of these twosomes contributed something in their field that was lauded and praised by the general public. Each of these teams excelled in their fields and are accepted as the top of their professions.

Most people do not have the vaguest idea who Reinhart and Rogoff are. Carmen Reinhart and Kenneth Rogoff are Harvard economists who provided an economic study that argues that higher public debt slows down economic growth when the GDP rises above a 90% threshold.  Reinhart and Rogoff did the work and because 99% of us have no idea how the economy actually works, their findings were pretty much taken as gospel.

Uh oh. Umass did it's own study. 28-year-old grad student Thomas Herndon and his two economics professors, Michael Ash and Robert Pollin actually took Reinhart and Rogoff's acclaimed and accepted study and ran the numbers several times and were NOT able to reproduce Reinhart and Rogoff's results. Herndon called the famous pair and asked them to provide him with their spreadsheet. Uh oh. Reinhart and Rogoff's spreadsheet had 5 missing columns. Five countries, including Australia, Austria, Belgium, Denmark, and Canada–were removed and...

The NEW numbers with the PROPER GDP Growth (example Spain was corrected from 2.8% to the CORRECT 2.2%) completely debunked the Harvard study. Why do you ask am I making such a big deal out of this debunked study?

Rep. Paul Ryan (R-Wisconsin) has been touting the Harvard study since 2011 and making it the basis for the spending cuts and current Sequester that is slowly dragging our economy down even further. Boehner and McConnell are also guilty of using the findings of this study to govern.

The Congressional Republicans have had little good news in the past five years. They erroneously thought this Harvard study legitimized the austerity they so want to impose on American citizens, based on THEIR idealogy. This isn't what is best for everyone and the majority AND the weak, who cannot defend themselves.

This REALLY pisses me off. Paul Ryan is a jerk to not even try to do anything to help his citizens. We get bogus budgets from this guy and his bullshit committee every year. Obama can't even get his budget to congress without Ryan shitting all over it.

This is no way to govern. The GOP is making itself obsolete. I am starting to hope that Hillary Clinton DOES run in 2016. It will really be over for this 'PARTY" then. She has a lot of old scores to settle and she will.

I say keep ignoring the will and desire of the public GOP. This latest "Background Check" fiasco is just the start of the polls sinking lower and lower. Republican Senators Kelly Ayotte and Jeff Flake were politically stupid to blindly follow the NRA on this watered-down garbage bill that Manchin & Toomey tried to get passed in bi-partisan fashion. The poll numbers for a lot of the senators who voted against background checks are sinking. GOP PA Senator Pat Toomey went UP five points after co-sponsering the bill with Democrat Joe Manchin. Hey Republicans...Wake the fuck up.

There will be so much happening this spring and summer with Syria, Iran, Isreal and the U.S. Congress, it will be hard to keep track of the scorecard. 

Rest assured. We will keep track and burn the GOP house down in the next two election cycles.

Much credit and love to 28-year-old Thomas Herndon and his two professors. They did themselves and their country proud on this one.