Perhaps in response to the traditional, strictly anti-government celebration of “May Day,” or maybe just because he’s a statist wiener. Whatever the case, here is the release from Whitehouse.gov:

In order to recognize the American spirit of loyalty and the sacrifices that so many have made for our Nation, the Congress, by Public Law 85-529 as amended, has designated May 1 of each year as "Loyalty Day." On this day, let us reaffirm our allegiance to the United States of America, our Constitution, and our founding values.

NOW, THEREFORE, I, BARACK OBAMA, President of the United States of America, do hereby proclaim May 1, 2012, as Loyalty Day. This Loyalty Day, I call upon all the people of the United States to join in support of this national observance, whether by displaying the flag of the United States or pledging allegiance to the Republic for which it stands.

IN WITNESS WHEREOF, I have hereunto set my hand this first day of May, in the year of our Lord two thousand twelve, and of the Independence of the United States of America the two hundred and thirty-sixth.

Paul Krugman’s deer-in-headlights expression when he was out-witted by Ron Paul on Bloomberg a few days ago was truly priceless.

But what is baffling—and has always been baffling about this buffoon—is that after all his ridiculous economic analysis and policy suggestion failures we still listen to the guy!

Krugman’s latest, The Do-Nothing Caucus is classic Paul Krugman half-truth nonsense. It’s short, so take the time to look it over. Notice how he draws conclusions after only scratching the surface of the issue. He clearly expects the reader to share his political bias in order to jump on board.

Or else he really is a moron, but I doubt it: he is a political hack, plain and simple.

I would appreciate a response from Mr. Krugman regarding the following:

Dear Nobel Laureate,

You cite this graph as evidence that there is no bloat in government.

The question I have for you is, do your USGOVT employment numbers reflect federal contractors, integrators, state and local governments and their contractors and integrators? Ok, so congressional staffers and treasury employment is about the same as it has been since 1970. Case closed. Great economic analysis, Nobel Laureate.

Second, does "bloat" mean to you an unjustified drawing of resources in general? Or are you satisfied with nominal employment number comparisons and don’t consider capital expenditure in certain sectors to be of importance? Do you think drawing non-employment resources away from the private sector would effect private sector employment? If not then why do you have a Nobel Prize on the subject?

The surface needs more than scratching, Mr. Nobel Laureate. Either you don’t know what you’re talking about or you’re just dishonest. Please come clean on which is the case.

One of the older participants at the recent austerity-protest in Spain had some interesting words about why he was taking part.

“I’m here to defend the rights that we’re losing and for the young people who have it so tough,” 57-year-old middle school teacher Roberto Alonso said. “They’re better educated than ever. But they don’t have work. They don’t have anything. They’re behind and they’ll stay that way.”

For decades there has been talk about mortgaging the future of our children for all the perks provided by government debt and all the luxuries provided by private debt funded in large part by government’s low interest rate policies.

Over the last few decades how many votes has Roberto Alonso cast for politicians who promised the sun and the moon while forcing the unborn to co-sign the necessary loan?

Was Roberto Alonso protesting then?

I can’t remember where I found this.