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View Diary: Krugman asks the President a question on Republican obstructionism (213 comments)

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  •  There is no fiscal cliff. (1+ / 0-)
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    chuck utzman

    What we have is a manufactured crisis engineered by congress with the help of their henchmen on Wall Street. The crisis in 2008 was also manufactured. It was supposed to boost McCain into the end zone but, instead, Obama grabbed the ball and ran with it. So, the whole country, having voted wrong had to be punished.
    Why did the President go along with it? Because the executive has no choice. The currency is in the hands of Congress.
    Why does the Congress seek to punish the electorate? Because punishment is a sign of power and power is what the legislative branch is after. Having run out of natural resources to dole out to supporters, they've hit on using the currency to manipulate the economy, rewarding supporters and punishing the recalcitrant voters.
    Of course, the lesson of 2008 was obviously not properly learned. 85 freshmen in 2010 were not good news because they seemed more interested in moral engineering than in finance. How else did they arrive at a compromise that isn't?

    We organize governments to provide benefits and prevent abuse.

    by hannah on Fri Nov 09, 2012 at 08:29:53 AM PST

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