Paul Krugman: Varieties of Voodoo

America’s two big political parties are very different from each other, and one difference involves the willingness to indulge economic fantasies.

Republicans routinely engage in deep voodoo, making outlandish claims about the positive effects of tax cuts for the rich. Democrats tend to be cautious and careful about promising too much, as illustrated most recently by the way Obamacare, which conservatives insisted would be a budget-buster, actually ended up being significantly cheaper than projected.