Legal Commentary

A Time To Kill . . . The "Recovery"

By Big Tent Democrat

Krugman:

The economic news has been better lately. New claims for unemployment insurance are down; business and consumer surveys suggest solid growth. We’re still near the bottom of a very deep hole, but at least we’re climbing. It’s too bad that so many people, mainly on the political right, want to send us sliding right back down again.

[. . .] Over the next few weeks, House Republicans will try to blackmail the Obama administration into accepting their proposed spending cuts, using the threat of a government shutdown. They’ll claim that those cuts would be good for America in both the short term and the long term. But the truth is exactly the reverse: Republicans have managed to come up with spending cuts that would do double duty, both undermining America’s future and threatening to abort a nascent economic recovery.

What Krugman does not say - The Deal is at the heart of today's spending cuts battle. By agreeing to slash taxes for the rich in December, the Obama Administration invited the slashing of government spending in March. And this will strangle the chances for recovery. The Deal was a terrible mistake.

Speaking for me only

Full post as published by TalkLeft on March 04, 2011 (boomark / email).