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A Mandate To Preserve And Extend Our Social Insurance System

Those of you who read this blog know that I've been nearly apoplectic over the past few months over the behind the scenes maneuvering to enact a Grand Bargain after the election. It is a great relief to see Paul Krugman take up the cause: If the polls are any...

Never Underestimate Wall Street's Ability To Overestimate Washington

Originally posted at Capital Gains and Games. This is a true but hard-t-believe story. Last October, when I was talking one-on-one with a number of hedge funds and other Wall Street firms about what the anything-but-super committee was likely to do, I repeatedly came...

See WHY Austerity Can't Reduce The Deficit

Austerity -- cutting government benefits and services -- is not the path to fixing deficits. In fact, economists warn that trying to fix a sluggish economy by cutting government spending will just make things worse. Worse yet, this approach can have damaging effects...

Punitive Austerity

Paul Krugman today: So much for complacency. Just a few days ago, the conventional wisdom was that Europe finally had things under control. The European Central Bank, by promising to buy the bonds of troubled governments if necessary, had soothed markets. All that...

The New Austerity Campaign

I see that the New York Times is helpfully reframing the election away from jobs and the economy. Here's the headline on the dead tree version: "Romney chooses Ryan, pushing fiscal issues to the forefront" Huzzah. As Tristero points out below, this would be a lot less...

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