The Krugman Truth Squad never sleeps

Last week, I wondered about the semantics of Paul Krugman’s assertion that “real spending per capita” cannot increase by force of inflation or population because exactly those parameters are held equal in “real” and “per capita” spending. Today, Donald Luskin unleashes his latest dissection of Herr Professor’s Friday column and focuses on the numbers. It turns out that Princeton Paul can’t do math since the 10% increase in California spending he cited is actually more than 13%.

To summarize: except for the words and numbers, Paul Krugman’s statement is correct.