We are ruled by charlatans and cowards. Our economy is in the tank, we know what to do about it, and we’re just not going to do it. The charlatans prefer instead to stand by and let people suffer because that’s politically useful, while the cowards let them get away with it because it’s politically risky to fight back. Ugh indeed.
What set him off? Today’s jobs report. It isn’t pretty. Here’s Krugman:
Almost no job creation, with slow private-sector growth offset by falling public-sector employment; a falling employment-population ratio; and (I don’t know how many people have picked this up), an actual decline in wages, albeit a small one…
The situation cries out for aggressively expansionary monetary and fiscal policy. Instead, however, all the political push is in the opposite direction.
And it’s a biiiig push.
Though the president and Congressional leaders did not close wide gaps on the issues of spending cuts or new tax revenues, officials briefed on the talks said, they emerged with a consensus to aim for the biggest possible deal — one resulting in up to $4 trillion in savings — and a recognition of the dire consequences of not acting before Aug. 2, when the government will lose its authority to borrow.
The good news is that the president and the Republicans have decided to do this hugely ambitious, complicated deal on a hard deadline that’s right around the corner. That way we don’t have to deal with all that messy “democracy” thing have a real debate or serious analysis before the Armageddon forces a vote.
Who says they don’t know what they’re doing, eh?
.