After I decided to write this article, I tried to come up with a word that best describes New York Times economics writer Paul Krugman. Turns out, it wasn't easy. Sure, Krugman beclowns himself regularly as he lies about the imaginary successes of Joe Biden, but there's more (less?) to the guy. 

Pathetically, it's almost like the ever-dour Krugman enjoys the humiliation to which he willingly subjects himself. If not, why does he do it so frequently? Dude reminds me of a line in the movie, "As Good As It Gets," when Greg Kinnear's character tells Jack Nicholson's character: "The best thing you have going for you is your willingness to humiliate yourself." Anyway, enough of that.

Our story begins last Saturday when Krugman fired up X in an attempt to defend Bidenflation — not an easy task. Not only did Krugman give it a shot — he also attempted to compare Biden's "success" with that of Ronald Reagan. No, really.

For people who say that Americans care about the level of prices, not the inflation rate, note that cumulative inflation under Biden so far is close to the number under Reagan. Which is why Reagan lost the 84 election in a landslide. Oh, wait

"Oh, wait" indeed, Mr. Krugman — despite your sill attempt at a joke about Reagan's 1984 landslide win.

For people who say that Americans care about the level of prices, not the inflation rate, note that cumulative inflation under Biden so far is close to the number under Reagan. Which is why Reagan lost the 84 election in a landslide. Oh, wait pic.twitter.com/KhThKZOZ3A

— Paul Krugman (@paulkrugman) January 20, 2024

Just one problem. Manhattan Institute Senior Fellow Brian Riedl pointed out that problem to Krugman.  

The obvious difference is that Reagan inherited a 13.5% inflation rate, so voters gave him more slack to gradually bring it down to 3.2%.  Biden inherited a 1.2% inflation rate and low inflation expectations, so the subsequent inflation spike to 8.0% was seen as his creation.

Oopsie, Paul.

The obvious difference is that Reagan inherited a 13.5% inflation rate, so voters gave him more slack to gradually bring it down to 3.2%.

Biden inherited a 1.2% inflation rate and low inflation expectations, so the subsequent inflation spike to 8.0% was seen as his creation. https://t.co/GwwtIU7Rn8

— Brian Riedl 🧀 🇺🇦 (@Brian_Riedl) January 21, 2024

So let's sum this up, shall we?

Krugman either delusional believes that Biden's handling of runaway inflation — which his policies led to — has been Reaganesque, or he was lying. Either way, Brian Riedl easily made the "economist" look like a fool, likely with half his brain tied behind his back. And Krugman? I'm confident that he didn't learn a thing from his latest thrashing.

So What's the Truth About Bidenflation?

As my colleague Nick Arama reported in December, "Core CPI inflation — which doesn't include volatile food and energy indexes — rose 0.3 percent in November for a 4.0 percent annual increase. Shelter costs have gone up 6.5 percent over the last 12 months and the food index is up 2.9 percent over the past year."

As Arama noted, even CNBC's Rick Santelli explained that the Consumer Price Index (CPI) "remains near its all-time high going back 100 years."

"We annualize and we look at numbers at this point forward — but if you go back in the rear view [sic] mirror, inflation compounds," says CNBC. Raw Consumer Price Index data remains near its "all-time high going back 100 years."

Not exactly Ronald Reagan-like, Mr. Krugman.

The Bottom Line

From Joe Biden himself to members of his administration to Congressional Democrats to the liberal lapdog media, the left has desperately tried to portray Biden's disastrous "sow's ear" presidency as a silk purse from day one — mostly by lying, and desperately depending on low-information rank-and-file Democrat voters once again lining up in November like lemmings and voting "D," with no questions asked.

Will it work, this time? God help us if it does.