You often find people talking about our economic difficulties as if they were complicated and mysterious, with no obvious solution. As the economist Dean Baker recently pointed out, nothing could be further from the truth. The basic story of what went wrong is, in fact, almost absurdly simple: We had an immense housing bubble, and, when the bubble burst, it left a huge hole in spending. Everything else is footnotes. Continue reading Paul Krugman: Build We Won’t |NYTimes→
Rachel Maddow reminds us, in this video clip dated July 2nd, 2014, of Rand Paul’s shifting views on civil rights. In four short years, Mr. Paul has gone from “I wouldn’t have voted for the Civil Rights Act of 1964” to a sudden and enthusiastic embrace of it.
The rise of corporate Democrats has gone from a quiet but steady pace since 2010, to a very visible and in-your-face spectacle of late. The face of the party has changed, with some of the old guard gone, but many Democrats who were always at the right-most edge of the party playing more central roles in our parliamentary politics.
In Congress, especially over the past year, we’ve seen deals quietly made by certain Senate Democrats with the GOP, on the backs of the poor and unemployed. The economic agenda of the Democratic party, as a whole, has vanished, as has its vocal support for its blue collar constituencies. While there are still a few progressives who stump for jobs, the unemployed, our safety net, education, and infrastructure, that talk isn’t backed by any particular legislative effort on the part of the leadership to, at the very least, give the appearance that it is trying to bring these issues back to the fore. Continue reading The faces of neo-liberalism, Part I: Robert Gibbs, Andrew Cuomo, and Rahm Emanuel→
Have you been following the news about Obamacare? The Affordable Care Act has receded from the front page, but information about how it’s going keeps coming in — and almost all the news is good. Indeed, health reform has been on a roll ever since March, when it became clear that enrollment would surpass expectations despite the teething problems of the federal website.
What’s interesting about this success story is that it has been accompanied at every step by cries of impending disaster. At this point, by my reckoning, the enemies of health reform are 0 for 6. That is, they made at least six distinct predictions about how Obamacare would fail — every one of which turned out to be wrong. Continue reading So Much for Obamacare Not Working – NYTimes→
Writing about Rep. Eric Cantor’s (R-Va.) stunning primary defeat last week, I warned Democrats that the House majority leader’s loss was as much a wake-up call for them as it was for the GOP. Well, now I want to warn them about a very real possibility: President Obama will be impeached if the Democrats lose control of the U.S. Senate.
On Sunday Henry Paulson, the former Treasury secretary and a lifelong Republican, had an op-ed article about climate policy in The New York Times. In the article, he declared that man-made climate change is “the challenge of our time,” and called for a national tax on carbon emissions to encourage conservation and the adoption of green technologies. Considering the prevalence of climate denial within today’s G.O.P., and the absolute opposition to any kind of tax increase, this was a brave stand to take. But not nearly brave enough. Emissions taxes are the Economics 101 solution to pollution problems; every economist I know would start cheering wildly if Congress voted in a clean, across-the-board carbon tax. But that isn’t going to happen in the foreseeable future. A carbon tax may be the best thing we could do, but we won’t actually do it. Continue reading Paul Krugman: The Big Green Test – NYTimes→
How big a deal is the surprise primary defeat of Representative Eric Cantor, the House majority leader? Very. Movement conservatism, which dominated American politics from the election of Ronald Reagan to the election of Barack Obama — and which many pundits thought could make a comeback this year — is unraveling before our eyes. Continue reading @NYTimesKrugman: Eric Cantor and the Death of a Movement – NYTimes→
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