If you missed today’s Morning Jolt, you missed observations like these…
In the Corner, Andrew Stiles notes that there are quite a few House Democrats who may not be on board with this:
Clearly, a significant chunk of Pelosi’s caucus is outraged. Progressive Caucus chairman Raul Grijalva (D., Ariz.) said the proposed deal “trades people’s livelihoods for the votes of a few unappeasable right-wing radicals, and I will not support it.” Rep. Emmanuel Cleaver (D., Mo.), chairman of the Congressional Black Caucus, called it “a sugar-coated Satan sandwich.” The two chairmen have scheduled a joint-press conference on Monday to call on President Obama to raise the debt ceiling by invoking the 14th amendment.
So I’m on a low-carbs, low-sugar, limited diet, and right now a “sugar-coated Satan sandwich” sounds fantastic.
…I don’t know if Sen. Dick Durbin is trying to whisper sweet nothings into the ear of the Tea Party on the issue of whether it should like the deal, but if he were, this would be a pretty good way to do it:
“The Republicans are killing Keynesian economics with their attempt to cut spending as the economy rebounds from a recession, Senate Majority Whip Dick Durbin (D-Ill.) said in a floor speech on Sunday.”I would say . . . that symbolically, that agreement is moving us to the point where we are having the final interment of John Maynard Keynes,” he said, referring to the British economist. “He normally died in 1946 but it appears we are going to put him to his final rest with this agreement.” . . .”
Some people read that statement and think what a tragedy it is. Some people read that and sigh that it is long overdue. I read that statement and think, “Zombies.”
…Patrick Ruffini starts a brush fire with his assessment, “An independent Sanders candidacy looks much more plausible after tonight.”Sanders, of course, is Sen. Bernie Sanders, Bolshevik Democratic Socialist (no, really) of Vermont…. Sanders: The choice this country needs — to split the left-of-center vote and enhance the chances of an Obama defeat! Operation Chaos to Yellow Alert!
"a sugar-coated Satan sandwich"
Deviled ham and Heluva cheese?
Reply to this commentLinkReport AbuseI hope you're right about the final demise of Keynesian economics. However, I thought the stake had finally been driven through its heart in the 1980s. We still hear far too many Republicans --- not just Democrats -- talking about "stimulating the economy" and doing things to "boost demand" to make me sanguine that we have seen the last of this particular vampire.
Reply to this commentLinkReport AbuseIf communism can rear its ugly head again in Europe, as we have seen in some of the protests sweeping the continent, it becomes apparent that even the worst ideas can defy historical judgement and rise from the grave again.
Education (primary, secondary and higher) keeps the beast alive. Supply and demand is taught in basic economics somewhere between the 8th and 9th grades and then in 11th and beyond, students are told to ignore the ideas of 'micro-economics' and dwell in the land of Keynesian Macro economics. No other models are presented other than the strawman of Supply-side economics as described by Krugman.
There are some rebels that will close the classroom door and quietly introduce students to Milton Friedman when discussing Monetary policy, but they are few and far between. I MAJORed in Economics and do not recall ever discussing FA Hayek.
Reply to this commentLinkReport Abuse