In a recent tirade against Jeb Bush, Krugman shows this chart
On substance, the supply-siders have covered themselves in, well, whatever is the opposite of glory since 2008 — predicting runaway inflation and soaring interest rates, disaster from tax hikes both nationally and in Jerry Brown’s California, triumph in Brownback’s Kansas, and on and on.
But starting the comparison in January 2011 is blatant cherry-picking to make high-tax California look good.
What happens if we, more naturally, do the comparison from the cycle peak in December 2007? Things look very different, especially if you take into account that since 2007 California´s resident population has grown a little over 7% while Kansas has seen resident population grow only just above 4%!
There´s no “disaster” and no “triumph”, just mediocre performance everywhere!