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Tue Dec 4, 2012, 10:31 AM

Krugman: Three-Card Budget Monte

Three-Card Budget Monte

It goes without saying that the Republican “counteroffer” is basically fake. It calls for $800 billion in revenue from closing loopholes, but doesn’t specify a single loophole to be closed; it calls for huge spending cuts, but aside from raising the Medicare age and cutting the Social Security inflation adjustment — moves worth only around $300 billion — it doesn’t specify how these cuts are to be achieved. So it’s basically the Paul Ryan method: scribble down some numbers and pretend that you’re a budget wonk with a Serious plan.

What I haven’t seen pointed out here is the longer arc of GOP strategy. Does anyone recall how the Bush tax cuts were passed? The 2001 cut was passed based on the claim that the government was running an excessive surplus; the 2003 cut on the claim that it would provide an economic boost. Then the surplus went away, and the economy did not, to say the least, perform very well.

So now we face a substantial long-run deficit largely created by those tax cuts:

<...>

And the GOP says that because of that deficit we must raise the Medicare age and cut Social Security!

Oh, and for all the seniors or near-seniors who voted Republican because you thought they would protect Medicare from that bad guy Obama: you’ve been had.

http://krugman.blogs.nytimes.com/2012/12/04/three-card-budget-monte/



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Arrow 9 replies Author Time Post
Reply Krugman: Three-Card Budget Monte (Original post)
ProSense Dec 2012 OP
LisaLynne Dec 2012 #1
madokie Dec 2012 #2
ProSense Dec 2012 #4
ladjf Dec 2012 #5
madokie Dec 2012 #7
ladjf Dec 2012 #8
madokie Dec 2012 #9
bullwinkle428 Dec 2012 #3
kentuck Dec 2012 #6

Response to ProSense (Original post)

Tue Dec 4, 2012, 10:57 AM

1. Kick. nt

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Response to ProSense (Original post)

Tue Dec 4, 2012, 11:02 AM

2. Speaking of paul lyan where is boy munster?

is he still alive or has he bit the bullet?
Don't seem to be seeing much of his sorry ass lately
Maybe wifey has shut him off from the money pot, who knows
actually besides me who even gives a flying fuck?
Oh I actually don't give a damn where he is (-:

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Response to madokie (Reply #2)

Tue Dec 4, 2012, 12:33 PM

4. He's a fraud

After Promising To Preserve Medicare For Current Retirees, GOP Demands Immediate Cuts...
http://www.democraticunderground.com/10021922307

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Response to madokie (Reply #2)

Tue Dec 4, 2012, 12:35 PM

5. Bidden showed Americans how dumb Ryan was. nt

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Response to ladjf (Reply #5)

Tue Dec 4, 2012, 01:36 PM

7. That he did

He crushed the pukes boy wonder like you or I would a stink bug.

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Response to madokie (Reply #7)

Tue Dec 4, 2012, 02:24 PM

8. Did you notice that after that debate, Ryan almost dissappeared from the public scene?

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Response to ladjf (Reply #8)

Tue Dec 4, 2012, 05:03 PM

9. Yes I did

good riddance to bad rubbish

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Response to ProSense (Original post)

Tue Dec 4, 2012, 11:17 AM

3. Fifty years ago, Ryan would have been run out of D.C. on a rail.

K&R.

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Response to ProSense (Original post)

Tue Dec 4, 2012, 12:48 PM

6. I cannot understand why???

They have to have a quid pro quo to close loopholes? If they were doing their jobs...

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