I have to run into Manhattan this evening. I will be late back and late posting more.
Krugman:
The Eighteenth Brumaire of Barack Obama
These days, political events occur, as it were, twice — the first time as near-tragedy, the second time as farce*.
In 2011, President Obama very nearly did immense damage to both the social safety net and the future of his party by offering a disastrous budget deal — a deal that would have raised the Medicare age, cut deeply into other programs, all in return for not much revenue and no rise at all in tax rates. Fortunately, he was saved from himself by what Gail Collins calls the rabid ferrets — the Republican back-benchers who wouldn’t accept any rise in taxes on the rich whatsoever, and effectively scuttled the deal.
This time around, Obama holds a much stronger position, yet for a couple of days there he seemed once again to be negotiating with himself. The offer he made earlier this week wasn’t nearly as bad as in 2011, and some reasonable progressives believe that the benefits — extended unemployment benefits, infrastructure, and extension of some other tax breaks that benefit the poor and middle class — are worth giving up a full return to pre-Bush taxes on the wealthy and the cuts in Social Security that would result from changing the price index. But it was an offer, not a deal — and there was good reason to fear that Obama, having arguably already given away too much, was getting ready to give away substantially more.
Rabid ferrets to the rescue!
It’s still not clear what Boehner thought he was doing In floating his “Plan B” — a ludicrous measure that would largely let the affluent, and even the wealthy, off the hook. Was it an attempt to somehow strengthen his bargaining position? Was he just covering his, um, assets with the GOP base? I don’t know. But he’s definitely disabused the Obama people of any notion that they’re finally having a serious, good-faith negotiation.
Furthermore, it’s now clear that he’s having trouble getting his party unified even for a tiny tax rise on the wealthy — which means that he would suffer massive defections in any deal that even a wimpy Obama (if that’s what we have again, which I hope we don’t) might agree to. And that in turn means that any deal would have to have overwhelming Democratic support — which gives progressives in the House, who already feel that Obama has given away too much, a lot of veto power despite their minority status.
Some alleged experts still think we’ll have a deal before we go over the cliff. Maybe they know their business, but I don’t see it. And the capitulation we all feared seems a lot less likely than it did two days ago. Thanks, ferrets!
*For those puzzled, the reference is here.
In 2011, President Obama very nearly did immense damage to both the social safety net and the future of his party by offering a disastrous budget deal — a deal that would have raised the Medicare age, cut deeply into other programs, all in return for not much revenue and no rise at all in tax rates. Fortunately, he was saved from himself by what Gail Collins calls the rabid ferrets — the Republican back-benchers who wouldn’t accept any rise in taxes on the rich whatsoever, and effectively scuttled the deal.
This time around, Obama holds a much stronger position, yet for a couple of days there he seemed once again to be negotiating with himself. The offer he made earlier this week wasn’t nearly as bad as in 2011, and some reasonable progressives believe that the benefits — extended unemployment benefits, infrastructure, and extension of some other tax breaks that benefit the poor and middle class — are worth giving up a full return to pre-Bush taxes on the wealthy and the cuts in Social Security that would result from changing the price index. But it was an offer, not a deal — and there was good reason to fear that Obama, having arguably already given away too much, was getting ready to give away substantially more.
Rabid ferrets to the rescue!
It’s still not clear what Boehner thought he was doing In floating his “Plan B” — a ludicrous measure that would largely let the affluent, and even the wealthy, off the hook. Was it an attempt to somehow strengthen his bargaining position? Was he just covering his, um, assets with the GOP base? I don’t know. But he’s definitely disabused the Obama people of any notion that they’re finally having a serious, good-faith negotiation.
Furthermore, it’s now clear that he’s having trouble getting his party unified even for a tiny tax rise on the wealthy — which means that he would suffer massive defections in any deal that even a wimpy Obama (if that’s what we have again, which I hope we don’t) might agree to. And that in turn means that any deal would have to have overwhelming Democratic support — which gives progressives in the House, who already feel that Obama has given away too much, a lot of veto power despite their minority status.
Some alleged experts still think we’ll have a deal before we go over the cliff. Maybe they know their business, but I don’t see it. And the capitulation we all feared seems a lot less likely than it did two days ago. Thanks, ferrets!
*For those puzzled, the reference is here.
1
Multimedia
Images of Emancipation
A new book argues that photography was not incidental but central to the war against slavery, racism and segregation in the1850s through the 1930s.
2
U.S.
Illinois: Field Museum Cuts Back
The Field Museum in Chicago, a center of global scientific research, has announced plans to cut staff, overhaul operations and limit its research because of a high debt and the recession.
3
Business Day
A Wave of Start-Ups Helps Small Companies Outsource Their Tasks
At the holiday season especially, small-business owners find themselves burdened by dozens of specialized tasks that need to be done. A number of start-ups are ready to help.
4
U.S.
Next Challenge for the Health Law: Getting the Public to Buy In
The Patient Protection and Affordable Care Act appears here to stay, but many of those it is supposed to help still do not understand what the law can do for them, officials have found.
5
Business Day
Voestalpine Plans to Invest in North America
The Austrian steel and components maker said it would invest in a plant somewhere in the United States, apparently prompted by low American energy prices.
6
Business Day
Power Company Loses Some of Its Appetite for Coal
The owners of Big Sandy, a coal-fired facility in eastern Kentucky, said it was too expensive to retrofit the plant to conform to new environmental rules.
7
Technology
Twitter Reacts to Anonymous Attacks on Westboro Baptist Church
Twitter briefly suspended an account associated with Anonymous, the hacker collective, on Wednesday following a week of Anonymous attacks on members of the Westboro Baptist Church.
8
World
Jordan Talks of Reform, but Old System Holds Sway
Scores of demonstrators have been placed in legal limbo, facing a bewildering array of laws and procedures that allow the state to keep them in indefinite detention.
9
Times Topics
Gay Mom Struggles With In-Laws’ Favoritism
When grandparents favor the child delivered by their own daughter over that of the daughter’s wife, a frank discussion is needed, Steven Petrow writes.
10
U.S.
City in Colorado Is Sued Over a Drilling Ban
A group representing oil and gas companies says that the city of Longmont, Colo. had no right to ban hydraulic fracturing.
11
Business Day
Europe Proposes New Tobacco Rules
Health warnings should cover 75 percent of cigarette packs but governments should also have leeway to require plain packaging, the European Commission said Wednesday.
12
World
Deaf Officers Step in Where Police Work Counts on Eyes More Than Ears
A cadre of 20 deaf officers help monitor more than 200 security cameras that keep watch over the Mexican city of Oaxaca.
13
U.S.
Massachusetts: Court to Consider Removal of Judge in Bulger Case
A federal appeals court has agreed to hear a request by the Boston mob boss James (Whitey) Bulger to remove the judge scheduled to preside over his murder trial.
14
World
Hard Times in Spain Force Feuding Couples to Delay Divorce
Spaniard couples are staying in troubled relationships longer as a result of the economic crisis and are paying the emotional price because they cannot afford the price of divorce.
15
N.Y. / Region
Foundation Aims to Put Business Issues on Agenda in New York Mayor’s Race
The Rockefeller Foundation said it would award the Brooklyn Chamber of Commerce $100,000 to come up with ways to compel the candidates in next year’s race to pay more attention to business concerns.
16
U.S.
Army Seeking Death Penalty in Massacre of 16 Afghans
Staff Sgt. Robert Bales acted deliberately when he killed 16 civilians in Afghanistan, the Army says, but his lawyer suggested there were questions about his mental health.
17
Business Day
Bank Data-Theft Suspect Allowed Out of Jail
The Spanish National Court granted conditional freedom to Hervé Falciani, a former HSBC employee wanted by Swiss authorities in the theft of secret data on tens of thousands of private accounts.
18
Books
The Paper Trail Through History
Prof. Lisa Gitelman is writing a book about documentation, including Post-it notes and copying, and how it has affected history.
19
Home & Garden
Tree of Life
With 3,000 ornaments to display, a woman’s existence dangles before her eyes.
20
Dining & Wine
Out of Its Shell and Onto Your Plate
Whelks, a type of sea snail that inhabits the Atlantic Ocean, are making news on cutting-edge menus..
No comments:
Post a Comment