“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”.
Paul Krugman: The Hijacked Crisis
Has market turmoil left you feeling afraid? Well, it should. Clearly, the economic crisis that began in 2008 is by no means over.
But there’s another emotion you should feel: anger. For what we’re seeing now is what happens when influential people exploit a crisis rather than try to solve it.
For more than a year and a half – ever since President Obama chose to make deficits, not jobs, the central focus of the 2010 State of the Union address – we’ve had a public conversation that has been dominated by budget concerns, while almost ignoring unemployment. The supposedly urgent need to reduce deficits has so dominated the discourse that on Monday, in the midst of a market panic, Mr. Obama devoted most of his remarks to the deficit rather than to the clear and present danger of renewed recession.
New York Times Editorial: A Scalpel, Not an Ax, for Medicaid
Many states are struggling to balance their budgets by curbing spending on Medicaid, a joint state-federal program that provides health insurance for the poor and disabled. They have little choice because Medicaid is one of their biggest, fastest-growing expenses. The risk is that injudicious cuts could harm their most vulnerable citizens.
A lawsuit, which the Supreme Court is scheduled to hear in the coming term, will determine whether there is any recourse for Medicaid beneficiaries who may have less access to health care because of such cuts. Beneficiaries need the right to sue – and to negotiate legal settlements – so that they can force states to consider whether reducing provider payments will limit access to care.
With world markets suddenly sagging under the weight of the Standard & Poor’s Aug. 5 downgrade of Treasury bonds, Sen. Al Franken, D-Minn., is disturbed by the monopolistic power of the ratings agencies-and still determined to curb their abuses, as he tried to do last year with an amendment to the Dodd-Frank banking reform bill.
In an exclusive Monday interview for The National Memo, the Minnesota Democrat said that the misconduct of the ratings agencies led directly to the economic catastrophe that S&P’s rating decision has made even worse. Franken wondered aloud why his proposed reforms of the ratings industry should still be subject to “study” rather than action by the Securities and Exchange Commission.
David Sirota: Collateral Damage in the War on Anonymity
From warrantless wiretapping to ever-present surveillance cameras, our world is right now in the midst of a long war on anonymity.
In the media and political arenas, we’ve seen paparazzi culture famously fetishize the outing of anonymous iconoclasts, from Watergate’s Deep Throat (Mark Felt) to a top CIA agent working on weapons of mass destruction (Valerie Plame). Likewise, in our communities, we now know that we are almost always being monitored in highly trafficked parks, malls, airports and stadiums-and as Slate recently reported, we may soon have apps on all of our smartphones that let us identify random faces in a crowd.
Eugene Robinson: Washington Deserves America’s Disapproval
It’s sobering that three-fourths of Americans, according to a new Washington Post poll, have little or no confidence in our elected leaders to solve the nation’s economic problems. At this point, though, it’s hardly surprising.
If anything, we should be shocked and alarmed that 26 percent of our fellow citizens apparently believe the president and Congress are going to make it all better. Are they not paying attention? Or are they delusional?
The manic-depressive swings we’ve seen in the stock market all week just serve to heighten the general anxiety, like the soundtrack of a horror film. Seesaw gains or losses of hundreds of points on the Dow tend to mask the overall trend, which is downward-and also distract attention from the fact that markets in Europe and Asia are heading in the same direction. The world is trillions of dollars poorer than it was just a couple of weeks ago.
Trillions, by the way, are the new billions.
Bill Boyarsky: America Is a Spark Away From Riots of Its Own
As President Barack Obama tried to calm a United States facing the threat of financial disaster, riots raged across the Atlantic in London and other British cities. Could it happen here, as our nation adopts British-style austerity and suffers through worsening unemployment? It certainly could, just as it has in the past.
As a reporter and then a columnist for the Los Angeles Times 20 years ago I covered the genesis, the explosion and the aftermath of the Los Angeles riot of 1992, described by author Lou Cannon as “the nation’s deadliest race riot since the Civil War.”
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