Warren Mosler and Joseph M. Firestone
Paul Krugman agrees that “We're Not Greece.” But he only appears to have a glimmer of an understanding of the most important reason why this is so. We hope this commentary on his op-ed piece improves his understanding, and that of other deficit doves who appear to disagree with the deficit terrorists, but who in the end share their false basic assumptions about deficits, national debts, fiscal responsibility, and fiscal sustainability.
It’s an ill wind that blows nobody good, and the crisis in Greece is making some people — people who opposed health care reform and are itching for an excuse to dismantle Social Security — very, very happy. Everywhere you look there are editorials and commentaries, some posing as objective reporting, asserting that Greece today will be America tomorrow unless we abandon all that nonsense about taking care of those in need.
Who knew that the AFEP had this kind of rhetorical power? Only days after telling Krugman to stop acting like a dipshit, our man Paul has come around, sort of. He pretends that those who argue, strongly, in favor of reducing the size of the too big too fail banks are actually arguing this: Read more about Krugman Goes To Battle With A Strawman, Wins
C'mon, Paul. You must know your latest column isn't all true, and what's true is nothing like the whole truth. Do you really believe we can fix it later?
What would work?
Wrong question. The right question is what does work. To answer that question, we might look at systems that pay at most half what we pay per capita, and all of which have better health outcomes: Canada (single payer). France (like single payer). The UK (socialized medicine). Taiwan (single payer). And so forth. Why aren't we doing that? More importantly, why weren't you building the case for it?
Paul Krugman has been awful on health care lately, but he certainly does have a good memory for Medicare, Republicans and the Clinton years. How refreshing to see a lefty pundit who actually tells the truth about them!
For example, Dr. Krugman remembers why Newt Gingrich's famous hissy fit actually happened.
Remember what the 1995 government shutdown was about: it was Newt Gingrich trying to force Bill Clinton to accept, yes, deep cuts in Medicare.
Obama confidant’s spine-chilling proposal and Krugman, Gruber and non-disclosure issues [Glenn Greenwald]. I was completely gobsmacked by Krugman’s evident lack of a moral compass (this is “ends justify the means” in fancy dress), and was glad to see Greenwald do the heavy lifting of taking his argument apart.
Paul Krugman is quickly becoming a shadow of his formerly credible self. For the love of Jeebus, Paul, stop talking about health reform before you become as much of a joke as paid propagandists Keith Obamaman or Rachel Maddow.
Here's the sentence that really stuck in my craw:
A last general point: we really don’t know what it will take to rein in health costs, but that’s a reason to try every plausible idea that experts have proposed. Limiting tax deductibility is definitely one of those ideas.
Who needs Princeton* and Chicago** when we've got UMKC***? It's Sunday morning, so I'll grab a money quote from Bill Black's three part series, but read parts one and two. They describe what we're up against: Theft, plain and simple, and demonstrable at law if the perps were brought before a court. Read more about Bill Black on our failure to hold thieving banksters accountable
Krugman asks, and answers "politics" (that is, right wing bromides like "government is the problem"). Of course:
1. Obama hasn't done anything to fight the right wing bromides and has, if anything, reinforced them; and
2. Why would on earth would anybody imagine that the FKDP has any other constituency than Big Money, Big Insurance, Big Pharma, and all the other Mr. Bigs? Read more about Why not a WPA?
My big beef is that he didn’t go far enough and is WAAY too forgiving of the motivations and actions of Larry Summers and by extension, Team Obama.
Somebody kidnapped Paul Krugman at that White House dinner, didn't they? Krugman wrote: Read more about The real Cassandra speaks!
So the odds now are that the [health care reform] thing hangs together, and reform is indeed enacted this year. It will be a highly flawed product; we’ll probably spend much of the next decade trying to fix it.
But it does look as if it’s going to happen. And that will be a huge victory for ["]progressives["].
Paul Krugman today lays it all out: how Big Government has been what has stood between us and a 1930s-style Great Depression (even as he acknowledges that they could have done a better job of it). Some excerpts: (but read the whole thing!)
I heard you say that we aren’t going to have a second Great Depression. What saved us?
The answer, basically, is Big Government.
So the government fixed things? Does everyone go back to work tomorrow?
Just to be clear: the economic situation remains terrible. We haven’t yet reached the point at which things are actually improving; for now, all we have to celebrate are indications that things are getting worse more slowly.