I've only heard Paul Krugman use it and he's a Princeton professor who won a Nobel prize in Economics. So, I have to dispute that "innumerate" insult.
To me, that term refers to the incorrect conventional wisdom from those who insist that we need to crack down on poor people, stop investing in education, infrastructure, the environment and strip our middle class society for spare parts because we don't have enough money!!! But, we have plenty of money for tax cuts, corporate welfare and endless wars and weapons. Basically, it's the conventional wisdom of people who want to run America like a multinational corporation, downsize the labor costs and upsize the executives' stock options. Instead, it's downsize any investment on people and upsize the power of the richest Americans and multinationals.
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