From his latest column (worth reading in full), here’s Paul Krugman’s bottom line:
. . . Over the next few weeks, House Republicans will try to blackmail the Obama administration into accepting their proposed spending cuts, using the threat of a government shutdown. They’ll claim that those cuts would be good for America in both the short term and the long term.
But the truth is exactly the reverse: Republicans have managed to come up with spending cuts that would do double duty, both undermining America’s future and threatening to abort a nascent economic recovery.
☞ And if you doubt that Republicans know how to undermine an economy, just look at how they managed to upend the Clinton/Gore prosperity of the Nineties.
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Talk about overcrowding. Check out this video, if you have a few minutes to go slack-jawed in claustrophobic amazement.
Quote of the Day
Wall Street takes your money and their experience and turns it into their money and your experience.~unknown
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