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Mon Dec 17, 2012, 06:43 PM

Krugman: Rumors of a Deal (WTF?) - updated [View all]

Rumors of a Deal

It sounds as if Ezra Klein is hearing more or less the same things I’m hearing...Unlike what we’d heard from Republicans before, this contains stuff that Obama can’t get just by letting us go over the cliff: more revenue than he could get just from tax-cut expiration, unemployment and infrastructure too. But it has a cost, those benefit cuts.

Those cuts are a very bad thing, although there will supposedly be some protection for low-income seniors. But the cuts are not nearly as bad as raising the Medicare age, for two reasons: the structure of the program remains intact, and unlike the Medicare age thing, they wouldn’t be totally devastating for hundreds of thousands of people, just somewhat painful for a much larger group. Oh, and raising the Medicare age would kill people; this benefit cut, not so much.

The point is that we shouldn’t be doing benefit cuts at all; but if benefit cuts are the price of a deal that is better than no deal, much better that they involve the CPI adjustment than the retirement age.

But is this rumored deal better than no deal? I’m on the edge. It’s not clear that going over the cliff would yield something better; on the other hand, those benefit cuts are really bad, and you hate to see a Democratic president lending his name to something like that. There is a case for refusing to make this deal, and hoping for a popular backlash against the GOP that transforms the whole debate; but there’s also an argument that this might not work.

- more -

http://krugman.blogs.nytimes.com/2012/12/17/rumors-of-a-deal

Let me get this straight. The President and Democrats have repeatedly said that Social Security has nothing to do with the deficit.

Raising the age for Medicare, which is a driver of the deficit because it's linked to health care costs, is taken off the table because it's a stupid idea that doesn't save money and will "kill people."

Now there are rumors of a deal involving cuts to Social Security benefits?

What the fuck for? Why is a program that has nothing to do with the deficit being dragged into the negotiations?

Are these people seriously determined to cause seniors pain for the hell of it?

There is stupid, raising the Medicare age, and then there is fucking stupid, this current rumor.

I'm surprised at Krugman's piece after he wrote this:

Krugman: No Deal, Continued
http://www.democraticunderground.com/10022013316

Updated to add, we just had a fucking election:



What the millionaires want versus what the voters want
http://www.dailykos.com/story/2012/12/07/1162018/-What-the-millionaires-want-versus-what-the-voters-want

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