What I’ve been saying forever — this is the awful endgame we’re failing to stop at the cost of our nation:
It’s not nice to say this (but the truth is rarely nice): whatever they may say, Republicans are not concerned, above all, about the deficit. In fact, it’s not clear that they care about the deficit at all; they’re trying to use deficit concerns to push through their goal of dismantling the Great Society and if possible the New Deal; they have stated explicitly that they want to reduce taxes on high incomes to pre-New-Deal levels. And it’s an article of faith on their part that low taxes have magical effects on the economy.
Obama believes that the major social insurance programs are a good thing, and has extended them with health reform. Some of the best-known research by his chief economist is his work debunking claims that tax cuts for the rich pay for themselves. (Link.)
Summers, of course, has made very good money for himself from financial innovation — over $5 million for one day’s work per week from hedge fund DE Shaw in 2008 alone. And he has lost vast amounts of other people’s money using financial innovation: $1 billion of Harvard’s cash, to be precise, lost in misadventures with things called forward-start interest rate swaps.
Doomed! By lying whores.
President Palin claims that Wisconsin “won”. Won what? Record hatefulness? Institutionalized corruption?
[Rerun but too sweet not to repeat:] The Washington Post Company: Corporate Welfare Queen. Without government handouts, it’d be nothing.