2011 Krugman: A GOP proposal to raise the Social Security retirement age "shows how disconnected [its proponents] are from the way the other half lives (and dies)." It's only the plutocrats, "the judges - and the politicians, who are similar - who think it's a great idea to raise the retirement age."
1996 Krugman: "...Mr. Peterson’s proposal is more completely fleshed out, but the general thrust is clear: slow the growth in benefit levels, gradually raise the retirement age...We need not dwell on their sensible proposals, however, because there is not the slightest prospect that they will be put into effect — or indeed that we will do anything serious about the looming crisis until it is almost upon us."
2010 Krugman: Re: unemployment benefits as disincentive to work: "What Democrats believe is what textbook economics says."
Economic Textbook Author Krugman: "Public policy designed to help workers who lose their jobs can lead to structural unemployment as an unintended side effect...The drawback to this generosity is that it reduces a worker's incentive to quickly find a new job. Generous unemployment benefits in some European countries are widely believed to be one of the main causes of "Eurosclerosis," the persistent high unemployment that affects a number of European countries."
2004 Krugman: Deficit at 3.5% of GDP - "Well, basically we have a world-class budget deficit...that as a share of GDP is right up there. It’s comparable to the worst we’ve ever seen in this country...so I think we’re looking for a collapse of confidence some time in the not-too-distant future."
2010 Krugman: Deficit at 9% of GDP - "Many economists, myself included, regard this turn to austerity as a huge mistake. It raises memories of 1937, when F.D.R.’s premature attempt to balance the budget helped plunge a recovering economy back into severe recession...But despite these warnings, the deficit hawks are prevailing in most places — and nowhere more than [Germany], where the government has pledged 80 billion euros, almost $100 billion, in tax increases and spending cuts even though the economy continues to operate far below capacity."
Remind me why any local papers run columns by this dishonest political hack?
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First I've seen of this statistic about those racist GOP bastards:
Of the black members of the House of Representatives, the only ones from majority white districts are Republicans.They really do hate black people.
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Interesting item here about the failure of high speed rail...in China (yes, the China whose high speed rail is supposed to be kicking our arses and that we're supposed to be longing for and emulating):
It was supposed to be the modern equivalent of the Great Wall, a web of high-speed rail lines whipping travelers and commuters at speeds of over 200 miles an hour. It was to be a model we were told we needed to emulate to stay technologically competitive...
Today the reality is somewhat different. In February, Liu Zhijun, minister of railways in the People's Republic of China, was arrested after investigations into cost overruns and poor performance of the ministry's showcase bullet trains, with a dash of corruption thrown in.
The modern marvel he oversaw has caused his ministry to run up some $276 billion in debt, roughly five times the amount that bankrupted General Motors. The money was mostly borrowed, ironically from the same Chinese banks that are financing our debt. And the trains aren't running safely or on time.
On April 13, the government announced train speeds would be reduced from a maximum 216 miles per hour to 186 as a result of concerns about safety, energy efficiency and affordability...
The Beijing-Tianjin line, built at a cost of $46 million per mile, is losing more than $100 million a year. Ticket prices are high for a Chinese citizenry with an estimated per-capita income of $4,300, still below the world average despite China's touted economic boom. People still prefer riding buses over these government-mandated bullet trains.
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