Krugman Today

30 Sep

Never a mistake to try to get Dr. Krugman’s thoughts out to more people.

Some concern about Simpson-Bowles waiting in the wings.

September 30, 2012, 8:57 am3 Comments

A Public Service Reminder: Simpson-Bowles Is Terrible

Nate Silver gives Mitt Romney a 16 percent chance of winning, and gives Republicans a 22 percent chance of taking the Senate. A month is an eternity in politics, it ain’t over until it’s over, yada yada, but the main suspense right now is whether the Democrats can retake the House — I’m eagerly waiting for Nate’s take.

And what this means is that in DC thoughts are turning to … Simpson Bowles.

You know what will happen if the expected result materializes and Obama is reelected: all the Very Serious People will clamor for him to return to the pursuit of a Grand Bargain, built around S-B.

So, a public service reminder: Simpson-Bowles is terrible. It mucks around with taxes, but is obsessed with lowering marginal rates despite a complete absence of evidence that this is important. It offers nothing on Medicare that isn’t already in the Affordable Care Act. And it raises the Social Security retirement age because life expectancy has risen — completely ignoring the fact that life expectancy has only gone up for the well-off and well-educated, while stagnating or even declining among the people who need the program most.

Yes, I know, inside the Beltway Simpson and Bowles have become sacred figures. But the people doing that elevation are the same people who told us that Paul Ryan was the answer to our fiscal prayers.


Posted by on September 30, 2012 in Economy, Education, Environment, Health, Politics


3 responses to “Krugman Today

  1. ryankane

    September 30, 2012 at 8:51 am

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  2. mhasegawa

    September 30, 2012 at 10:04 am

    When people talk about raising the retirement age, I keep thinking about those who do manual labor – collect our trash, fix our streets, etc. etc. How long do we expect them to keep working?

  3. h2dog

    September 30, 2012 at 10:25 am

    That’s the point exactly, mnasegawa,… I doubt there’s a carpenter, factory worker, food service worker, fisherman, farmer, general laborer, hotel worker,…. the list is endless,…. among these people that would raise the retirement age.
    If you sit in an office at a desk all day, or sit in a comfortable room doing your “investment” thing all day,….. then it would seem to be easy enough to say that anyone should be able to do it till they’re 70+ years old.
    But anyone who has to stand and move on a hard, concrete floor all day knows different.
    As does anyone who uses a shovel, a hammer, a pipe wrench, etc.


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