In Lew’s blog below about Ron Paul, the “Economist of the House”, he links to a smarmy NRO column by one Tom Nugent, a “retirement planner.” Whoever this Nugent fellow is, one thing for sure is that he does not understand elementary economics. He snears at some comments that Ron Paul made to Alan Greenspan, every one of which is perfectly sensible. Ron makes five points: 1. Government spending is more important than the deficit, for every dollar spent must come out of the private sector one way or another. Milton Friedman has been making this same point for decades, … Continue reading NRO’s Economic Ignoramus