Doomed! Because mainstream economics is in a Dark Age — dark because knowledge is forgotten or disregarded and idiocy reigns.
Doomed! Prof. Krugman’s reality check:
[I]t looks from here as if the president’s idea of how to bargain is to start by negotiating with himself, making pre-emptive concessions, then pursue a second round of negotiation with the G.O.P., leading to further concessions.
[B]y caving in so completely on the first round, Mr. Obama set a baseline for even bigger concessions over the next few months.
Among other things, the latest budget deal more than wipes out any positive economic effects of the big prize Mr. Obama supposedly won from last December’s deal, a temporary extension of his 2009 tax cuts for working Americans. And the price of that deal, let’s remember, was a two-year extension of the Bush tax cuts, at an immediate cost of $363 billion, and a potential cost that’s much larger — because it’s now looking increasingly likely that those irresponsible tax cuts will be made permanent.
More broadly, Mr. Obama is conspicuously failing to mount any kind of challenge to the philosophy now dominating Washington discussion — a philosophy that says the poor must accept big cuts in Medicaid and food stamps; the middle class must accept big cuts in Medicare (actually a dismantling of the whole program); and corporations and the rich must accept big cuts in the taxes they have to pay. Shared sacrifice!
I’m not exaggerating. The House budget proposal that was unveiled last week — and was praised as “bold” and “serious” by all of Washington’s Very Serious People — includes savage cuts in Medicaid and other programs that help the neediest, which would among other things deprive 34 million Americans of health insurance. It includes a plan to privatize and defund Medicare that would leave many if not most seniors unable to afford health care. And it includes a plan to sharply cut taxes on corporations and to bring the tax rate on high earners down to its lowest level since 1931.
The nonpartisan Tax Policy Center puts the revenue loss from these tax cuts at $2.9 trillion over the next decade. House Republicans claim that the tax cuts can be made “revenue neutral” by “broadening the tax base” — that is, by closing loopholes and ending exemptions. But you’d need to close a lot of loopholes to close a $3 trillion gap; for example, even completely eliminating one of the biggest exemptions, the mortgage interest deduction, wouldn’t come close. And G.O.P. leaders have not, of course, called for anything that drastic. I haven’t seen them name any significant exemptions they would end.
[T]he nation wants — and more important, the nation needs — a president who believes in something, and is willing to take a stand. And that’s not what we’re seeing.
(Apropos the above: I know Obomba’s plan is to boast of crumbs, lie that the improvement in the economy is significant, and look saner than his opponent. Sure beats working to help this nation.)
Too late! Harm done!
I’m too upset to say anything about the coming Medicare disaster and the ever-worsening disaster of profit-crazed healthcare in this nation….
Silly Glenn Greenwald: There’s no profit in morality so the 1% aren’t interested in it.
Doomed! Because there are people outside of asylums who take this crap seriously.
Gosh, Time is putrid:
- This is complete horseshit, wrong in just about every way. When Time shuts down, this level of crap journalism will be why.
- Dear Time: Answer is Of course not. Why do you run such a stupid piece?
- Time apparently hasn’t learned that the North has moved on since the Civil War and the South can’t let go because the crackers are stupid like that.
- Why is this, Time? Because Republicans are troop and vet-hating assholes. More specifically, they believe empty promises are all they deserve.