No, it’s not a joke… apparently, they had a little shindig at the TPPF to celebrate none other than the permafailure Arthur Laffer who is erroneously credited with:
1) Ending inflation
2) Killing the USSR
3) Robust economic growth in the 1980s
4) Generally being the smartest economist in any room
by conservatives who are, frankly, too stupid to know the difference between a real economist and Arthur Laffer. Nevermind that it was the Fed that killed inflation by finally starving out speculation in commodities and real estate. Or that the USSR died, as had been long predicted, under the weight of it’s own failed economic policies and leadership. Or that robust economic growth in the 1980s all worked it’s way to the top and never really trickled down… the inflation adjusted median wages rose a little over 8% from 1980-1990 (it rose about 16% from 1993-2000 while the evil Democrat Bill Clinton was President). Or that Laffers one big prediction never came true… tax cuts never did pay for themselves.
Forget all that and realize that the most damning thing about Arthur Laffer is that Governor Perry thinks he’s smart. For those us with triple digit IQs, that like damning with faint praise.
Still, we did get a picture of Laffer and Perry out of the event. Laffer is the one with the wig on.
The coverage of the event didn’t reveal if anyone in attendance had the presence of mind to ask Laffer to explain why the 2009 stimulus did work (he said it wouldn’t… of course, all it did was stop the bleeding since it was too small. Still, Arthur said it wouldn’t even do that so we still call FAIL on Laffer) or why we haven’t seen that hyperinflation he was predicting by the end of 2009.
Seriously, why would you fete someone who is sooooo bad at their chosen vocation? Is TPPF so desperate for respectability that Laffer was all they could get? Even John Taylor won’t accept their invite?