#paul krugman

Stablecoins may seem high-tech and futuristic, but what they most resemble are… U.S. banks during the “free banking” era before the Civil War, when paper currency was issued by largely unregulated private institutions. | Paul Krugman

And many failed.

https://t.co/EXMuYdAtJx

— Stowe Boyd | Work Futures (@stoweboyd)June 7, 2022

blissandzen:

First, raising the Medicare age is terrible policy. It would be terrible policy even if the Affordable Care Act were going to be there in full force for 65 and 66 year olds, because it would cost the public $2 for every dollar in federal funds saved. And in case you haven’t noticed, Republican governors are still fighting the ACA tooth and nail; if they block the Medicaid expansion, as some will, lower-income seniors will just be pitched into the abyss.

Second, why on earth would Obama be selling Medicare away to raise top tax rates when he gets a big rate rise on January 1 just by doing nothing? And no, vague promises about closing loopholes won’t do it: a rate rise is the real deal, no questions, and should not be traded away for who knows what.

So this looks crazy to me; it looks like a deal that makes no sense either substantively or in terms of the actual bargaining strength of the parties. And if it does happen, the disillusionment on the Democratic side would be huge. All that effort to reelect Obama, and the first thing he does is give away two years of Medicare? How’s that going to play in future attempts to get out the vote?

If anyone in the White House is seriously thinking along these lines, please stop it right now.
~Paul Krugman

liberalsarecool:

Here is a pretty lame quote from mental midget Paul Ryan:

“Just last week, the President told a crowd in North Carolina that Republicans are in favor of, quote, ‘dirtier air, dirtier water, and less people with health insurance.’ Can you think of a pettier way to describe sincere disagreements between the two parties on regulation and health care?”

Here is a great response from Paul Krugman:

“Just for the record: why is this petty? Why is it anything but a literal description of GOP proposals to weaken environmental regulation and repeal the Affordable Care Act? So Ryanis outraged, outraged, that Obamais offering a wholly accurate description of his [Ryan’s] party’s platform…. You really have to be somewhat awed when people who routinely accuse Obama of being a socialist get all weepy over him saying that eliminating protections against pollution would lead to more pollution.”