No, Krugman, Reagan Was Not The "Keynesian" And Obama Is Not The "Anti-Keynesian"

M2RB:

 How sweet to be an idiot,
And dip my brain in joy,
Children laughing at my back,
With no fear of attack,
As much retaliation as a toy.

 I tiptoed down the street,
Smiled at everyone I meet,
But suddenly a scream
Smashes through my dream.
Fee fie foe fum.
I smell the blood of an asylum.

How sweet to be an idiot.

How sour to be a Useful Idiot.

 "O.K., by now many readers have probably figured out the trick here: Reagan, not Obama, was the big spender."

- Paul Krugman, 8 June 2012

1981

Spending-to-GDP: 21.69%
Deficit-to-GDP: 2.52%

1982

Spending-to-GDP: 22.92%
Deficit-to-GDP: 3.93%

1983

Spending-to-GDP: 22.87%
Deficit-to-GDP: 5.88%

1984

Spending-to-GDP: 21.67%
Deficit-to-GDP: 4.71%

1985

Spending-to-GDP: 22.44%
Deficit-to-GDP: 5.03%

1986

Spending-to-GDP: 22.21%
Deficit-to-GDP: 4.96%

1987

Spending-to-GDP: 21.98%
Deficit-to-GDP: 3.16%

1988

Spending-to-GDP: 20.87%
Deficit-to-GDP: 3.04%

1989

Spending-to-GDP: 20.86%
Deficit-to-GDP: 2.78%

Reagan's Average Spending-to-GDP:  21.95%

Reagan's Average Deficit-to-GDP:   4.001%

2009*

Spending-to-GDP: 25.24%
Deficit-to-GDP: 10.13%

2010

Spending-to-GDP: 23.79%
Deficit-to-GDP: 8.9%

2011

Spending-to-GDP: 23.87%
Deficit-to-GDP: 8.61%

2012

Spending-to-GDP: 24.33%
Deficit-to-GDP: 8.51%

Obama's Average Spending-to-GDP:  24.31% 

Obama's Average Deficit-to-GDP:   9.04%

Just exactly how does that make Reagan the “Keynesian” and Obama the “Anti-Keynesian”?

Reagan was offered a deal that called for a 3:1 ratio of spending cuts to tax increases in 1982. This was the reason he reluctantly agreed to the largest tax increase of his presidency –$37.5 billion per year — the “Tax Equity and Fiscal Responsibility Act of 1982.“ The Democrats didn’t cut. In fact, not one of Reagan’s budgets was passed by Congress. Further, if Reagan’s budgets had been adopted, the deficit would have only increased by $627.4 billion. The additional $784.6 billion was added by Congress.

During Reagan’s tenure, tax rates (both nominal and effective) dropped dramatically across-the-board and the top individual income tax rate went from 70 to 28%.

Not exactly the actions of a “Keynesian.”  (Yes, I know about the tax rises.  If you want to debate them, fine, let's go.  Just remember that all tax increases are not created equally.  A gas tax increase, for example, works much differently than a tax hike on capital gains and you know.)  So, let's take a look at the deficits-to-GDP ratios of both Reagan and Obama since you've claimed for decades that Reagan was financially irresponsible while you are now calling for Obama to spend more money because he didn't listen to you in the first place by creating a "big enough" stimulus.  As an aside, Ferret, can you explain to us just exactly which "first place" you are always referring to when you claim the Supercalifragilisticexpialidocious Stimulus Act of 2009 was too small because I seem to remember you saying this:

"All indications are that the new administration will offer a major stimulus package. My own back-of-the-envelope calculations say that the package should be huge, on the order of $600 billion."

- Paul Krugman, Depression Economics Return, The New York Times, 14 November 2008

Now, let's look at who got the bigger bang for his buck -- tax-cuts-buck v. spending-out-of-China's-ass-buck:

1981:1…….……8.6
1981:2…….…..-3.2
1981:3……..…...4.9
1981:4…..…….-4.9
1982:1……...…-6.4
1982:2……....…2.2
1982:3…..…….-1.5
1982:4………….0.3
1983:1…….……5.1
1983:2…….....…9.3
1983:3……….…8.1
1983:4………….8.5
1984:1………….7.9

Ronald Reagan's average was GDP: 3.54%.

2009:1……...…-5.5
2009:2…….…..-0.7
2009:3…………2.2
2009:4…………5.6
2010:1……....…2.7
2010:2……....…1.7
2010:3……....…2.6
2010:4……...….3.1
2011:1……....…1.9
2011:2…………1.3
2011:3…………1.8
2011:4…………3.0
2012:1………..…1.9
2012:2………..…1.3
2012:3………..…2.0
2012:4………..…0.1

Barack H Obama's average GDP has been: 1.56%.

See:  Mirror, Mirror, On The Wall, Who Has The Fairest GDP Average Of Them All?

"But the big difference was real per capita spending at the state and local level, which continued to rise under Reagan but has fallen significantly this time around."

 - Paul Krugman, 8 June 2012

How does that make Reagan a Keynesian?  Do you even know the slightest thing about Federalism?

Ferret, you’re a hack and your Nobel means nothing. After all, Yasser Arafat, Jimmy Carter, Kofi Annan, Fat Al Bore, Barack Obama, and Dr Rajenda Pachauri, author of the enviro-smutty, bodice-ripping, shag-fest of a GaianPussyGalore book known as “Return to Almora” – to be clear, he won the Peace Prize, not the Piece Prize or a prize for literature – have won them, too.

How sour to be a Useful Idiot.

The Ferret speaking to an empty room at the Netroots Nation convention in Providence, Rhode Island, 9 June 2012.  I guess that many of the lunatics aren't buying his bullshit anymore either.

*  There was NO Bush FY2009 Budget

UPDATE:

A Prog got very perturbed and wrote:

"Like I said, Son, data series must reflect a legitimate starting point, else the results can be highly deceptive. Also, Keynesian prescription as economic policy does NOT distinguish between Uncle Sam and state/locals. This is just reality, even if you choose to ignore it because it disrupts your point. The Obama stimulus, as an example, was little more than disbursements to states."

Fine.  As I said above, you've found what you were looking for...unfortunately, I still win.


1980

Spending:  $590.9
GDP: $2,788.1
Deficit:  $73.8
Gross Debt:  $909.0

Spending-to-GDP:  21.19%
Deficit-to-GDP: 2.65%
Debt-to-GDP:   32.6%

1981

Spending:   $678.2
GDP:  $3,126.80
Deficit:  $79.0
Gross Debt:  $994.8

Spending-to-GDP: 21.69%
Deficit-to-GDP: 2.52%
Debt-to-GDP:  31.82%

1982

Spending:  $745.7
GDP:  $3,253.2
Deficit:  $128
Gross Debt:   $1,137.3

Spending-to-GDP: 22.9%
Deficit-to-GDP: 3.93%
Debt-to-GDP:  34.96%

1983

Spending:  $808.4
GDP:  $3,534.6
Deficit:  $207.8
Gross Debt:   $1,371.7

Spending-to-GDP: 22.87%
Deficit-to-GDP: 5.88%
Debt-to-GDP:   38.81%
1984

Spending:  $851.80
GDP:  $3,930.9
Deficit:  $185.4
Gross Debt:   $1,564.6

Spending-to-GDP: 21.67%
Deficit-to-GDP: 4.71%
Debt-to-GDP:  39.8%


1985

Spending:  $946.30
GDP:  $4,217.5
Deficit:  $212.3
Gross Debt:   $1,817.4

Spending-to-GDP: 22.44%
Deficit-to-GDP: 5.03%
Debt-to-GDP:   43.09%

1986

Spending:  $990.40
GDP:  $4,460.1
Deficit:  $221.2
Gross Debt:   $2,120.5

Spending-to-GDP: 22.21%
Deficit-to-GDP: 4.96%
Debt-to-GDP:   47.54%
1987

Spending:  $1,004.00
GDP:  $4,736.4
Deficit:  $149.7
Gross Debt:   $2,346.0

Spending-to-GDP: 21.20%
Deficit-to-GDP: 3.16%
Debt-to-GDP:  49.53%

1988

Spending:  $1,064.40
GDP:  $5,100.4
Deficit:  $155.2
Gross Debt:   $2,601.1

Spending-to-GDP: 20.87%
Deficit-to-GDP: 3.04%
Debt-to-GDP:   51%

1989

Spending:  $1,143.7
GDP:  $5,482.1
Deficit:  $152.6
Gross Debt:   $2,867.8
 
Spending-to-GDP: 20.86%
Deficit-to-GDP: 2.79%
Debt-to-GDP:   52.31%


Average from 1980 - 1989:

Spending-to-GDP:   21.79%
Deficit-to-GDP:   3.78%
Debt-to-GDP:   42.15%

Average from 1981-1989:

Spending-to-GDP:  21.87%
Deficit-to-GDP:   3.91%
Debt-to-GDP:  44.47%

Average from 1981-1985:

Spending-to-GDP:  22.31%
Deficit-to-GDP:  4.25%
Debt-to-GDP:  47.12%


Average from 1982-1985:

Spending-to-GDP:  22.47%
Deficit-to-GDP:  4.68%
Debt-to-GDP:   39.17%



2008

Spending:  $2,982.5
GDP:  $14,369.1
Deficit:  $458.6
Gross Debt:   $9,986.1

Spending-to-GDP: 20.76%
Deficit-to-GDP: 3.19%
Debt-to-GDP:  69.5%


2009

Spending:  $3,517.7
GDP:  $13,939.0
Deficit:  $1,412.7
Gross Debt:   $11,875.5

Spending-to-GDP: 25.24%
Deficit-to-GDP: 10.14%

Debt-to-GDP:  85.2%

2010

Spending:  $3,456.2

GDP:  $14,526.5

Deficit:  $1,293.5

Gross Debt:   $13,528.8

Spending-to-GDP: 23.79%
Deficit-to-GDP: 8.9%

Debt-to-GDP:  93.13%

2011

Spending:  $3,603.1
GDP:  $15,094.0
Deficit:  $1,299.6
Gross Debt:   $14,764.2

Spending-to-GDP: 23.87%
Deficit-to-GDP: 8.61%
Debt-to-GDP:   97.82%


2012

Spending:  $3,795.6

GDP:  $15,601.50 Deficit:  $1,327.0 Gross Debt:   $16,350.9 Spending-to-GDP: 24.3% Deficit-to-GDP: 9.14% Debt-to-GDP:   104.8% Obama's Average Spending-to-GDP: 24.3% Obama's Average Deficit-to-GDP:   9.2% Obama's Average Debt-to-GDP:   95.24%

Average from 2008-2012

Spending-to-GDP:   23.59%
Deficit-to-GDP:  7.87%
Debt-to-GDP:  90.09%


Average from 2009-2012

Spending-to-GDP:   24.3%
Deficit-to-GDP:  9.2%
Debt-to-GDP:  95.24%


So, let's compare Reagan's first 5 years to Obama's first four years (I'm being extra nice to Obama considering there was no Bush FY2009 budget and 1981 was Carter's budget); Reagan's first 4 full years to Obama's tenure; and, Reagan's entire presidency to Obama's term:


Reagan 5 years v. Obama 4:
Average from 1981-1985

Spending-to-GDP: 22.31%
Deficit-to-GDP: 4.25%
Debt-to-GDP: 47.12%


Average from 2009-2012

Spending-to-GDP: 24.3%
Deficit-to-GDP: 9.2%
Debt-to-GDP: 95.24%

 

Reagan's First Term v Obama's First Term:

Reagan's First Term:

Average from 1982-1985
Spending-to-GDP: 22.47%
Deficit-to-GDP: 4.68%
Debt-to-GDP: 39.17%


Obama's First Term:

Spending-to-GDP: 24.3%
Deficit-to-GDP: 9.2%
Debt-to-GDP: 95.24%


Reagan's Entire Presidency v. Obama's First Term

Average from 1981-1989
Spending-to-GDP: 21.87%
Deficit-to-GDP: 3.91%
Debt-to-GDP: 44.47%


Average from 2009-2012

Spending-to-GDP: 24.3%
Deficit-to-GDP: 9.2%
Debt-to-GDP: 95.24%



By the way, don't call me son unless you want me to beat you like a ginger-headed step-child.

How Sweet To Be An Idiot - Monty Python

How sweet to be an Idiot,
As harmless as a cloud,
Too small to hide the sun,
Almost poking fun
At the warm but insecure, untidy crowd.
How sweet to be an idiot,
And dip my brain in joy,
Children laughing at my back,
With no fear of attack,
As much retaliation as a toy.

How sweet to be an idiot. How sweet.

I tiptoed down the street,
Smiled at everyone I meet,
But suddenly a scream
Smashes through my dream.
Fee fie foe fum.
I smell the blood of an asylum.
(Blood of an asylum. But mother, I play so beautifully. Listen. Ha ha.)
Fie fye foe fum.
I smell the blood of the asylum.
Hey you. You're such a pennant.
You got as much brain as a dead ant,
As much imagination as a caravan sign,

But I still love you. Still love you.
Oooh, how sweet to be an idiot.
How sweet. How sweet. How sweet.