Punting the Pundits” is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.
Thanks to ek hornbeck, click on the link and you can access all the past “Punting the Pundits”.
Peter A. Diamond: When a Nobel Prize Isn’t Enough
LAST October, I won the Nobel Prize in economics for my work on unemployment and the labor market. But I am unqualified to serve on the board of the Federal Reserve – at least according to the Republican senators who have blocked my nomination. How can this be?
The easy answer is to point to shortcomings in our confirmation process and to partisan polarization in Washington. The more troubling answer, though, points to a fundamental misunderstanding: a failure to recognize that analysis of unemployment is crucial to conducting monetary policy.
In April 2010, President Obama nominated me to be one of the seven governors of the Fed. He renominated me in September, and again in January, after Senate Republicans blocked a floor vote on my confirmation. When the Senate Banking Committee took up my nomination in July and again in November, three Republican senators voted for me each time. But the third time around, the Republicans on the committee voted in lockstep against my appointment, making it extremely unlikely that the opposition to a full Senate vote can be overcome. It is time for me to withdraw, as I plan to inform the White House.
Paul Krugman: Vouchercare Is Not Medicare
What’s in a name? A lot, the National Republican Congressional Committee obviously believes. Last week, the committee sent a letter demanding that a TV station stop running an ad declaring that the House Republican budget plan would “end Medicare.” This, the letter insisted, was a false claim: the plan would simply install a “new, sustainable version of Medicare.”
But Comcast, the station’s owner, rejected the demand – and rightly so. For Republicans are indeed seeking to dismantle Medicare as we know it, replacing it with a much worse program.
I’m seeing many attempts to shout down anyone making this obvious point, and not just from Republican politicians. For some reason, many commentators seem to believe that accurately describing what the G.O.P. is actually proposing amounts to demagoguery. But there’s nothing demagogic about telling the truth.
The silence is deafening. While the rest of the nation is heading back toward a double dip, Washington continues to obsess about future budget deficits. Why?
Republicans don’t want to do anything about jobs and wages. They’re so intent on unseating Obama they’d like the economy to remain in the dumps through Election Day. They also see the lousy economy as an opportunity to sell Americans their big lie that government spending is the culprit – and jobs will return if spending is cut and government shrinks.
Democrats, meanwhile, don’t want to admit the recovery has stalled. They worry such talk will further undermine consumer confidence or spook the bond market. They don’t want to head into the election year sounding downbeat. And they don’t think they have the votes for anything that will have much effect before Election Day anyway.
Max Eternity: Dr. Cornel West: Greetings From a 21st-Century Prophet
“There is a price to pay for speaking the truth. There is a bigger price for living a lie.”
-Dr. Cornel West“The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy.”
-Dr. Martin Luther King Jr.Can America’s collective economics inform who we are as a people, whereby, through obsessive bean-counting, we sculpt our destiny, tacitly sanctioning the stripping of basic dignity from fellow citizens, the erosion of civil liberties, the evisceration of public education policies, of the arts and humanities, bankrupting entire communities, tarnishing longstanding values of the populace and its self-image, thus ultimately destroying all that was once valuable to society?
For even after the world swooned from the megahype of England’s latest royal wedding and the hip, hip, hurrah of President Obama’s ordered assassination of Osama bin Laden, a cornucopia of catastrophic socioeconomic horrors – in addition to America’s continued unpreparedness for natural disaster – still face this nation: endless war, long-term unemployment, swelling prison populations and multiple years of record-breaking home foreclosures.
Joe Conason: Playing With Default
The current puppet play in Congress, where Republicans sponsored a bill to raise the nation’s debt ceiling only because they wanted to vote it down, would be funny, if only they weren’t risking economic disaster. Unfortunately they’re not joking, as they push the country closer and closer to a potentially ruinous default.
If the showdown over debt and spending between the House majority and the White House isn’t resolved before the first week of August, the federal government will no longer be able to send out Social Security checks, run Veterans Administration hospitals, pay Medicare costs or operate the national park system, to mention just a few significant items. Hundreds of thousands of federal workers would be furloughed without pay, and millions of seniors would stop spending money, slamming an economy that already seems stalled.
But the consequences of that unprecedented situation would reverberate around the world, as nearly every expert, from the top bond trader, Mohamed El-Rian, to former Fed Chair Alan Greenspan, has warned.
Dana Milbank: Hubris and humility: Sarah Palin and Robert Gates on tour
“It’s not about me,” Sarah Palin said as she rode a bus emblazoned with her name in three-foot letters. “It’s not a publicity-seeking tour,” she told her Fox News interviewer, as the cameras rolled.
It was, rather, “about highlighting the great things about America.” Such as: Donald Trump’s digs at Trump Tower and Fox News headquarters in New York, both stops on her “One Nation” bus tour.
Actually, there is a tour underway that highlights the great things about America, but it isn’t Palin’s. It’s the farewell tour of Robert Gates, defense secretary to presidents George W. Bush and Obama, whose work over the past 41 / 2 years has dramatically improved the state of the U.S. military. While Palin played cat-and-mouse with the press corps on Interstate 95, Gates set off on a tour of Asia and Europe, where he is receiving the gratitude of soldiers and the acclaim of allies.
E. J. Dionne, Jr. Romney’s flawed view of freedom
The bales of hay were stacked strategically in the hope that they’d make it into the television screen. The sturdy white barn nearby provided an image worthy of a Christmas card, the symbol of a solid, calm, industrious and confident country. The slogan behind the candidate, “Believe in America,” did not invite debate.
Whatever the punditocracy may have made of Mitt Romney’s formal announcement of his presidential candidacy last week, we could all give the guy credit for trying to reassure us that not everything in politics has changed.
In an age of media flying circuses where you never know who is running for president and who is just trying to boost book sales and speaking fees, Romney did it the old-fashioned way. He really, really wants to be president, and he offered pretty pictures to encourage us to watch him saying so. It was the venerable liturgy of our civil religion.
Recent Comments