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By Tim Price, originally published on Next New Deal

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Cheating Our Children (NYT)

Paul Krugman writes that after repeatedly crying wolf about a looming economic disaster, deficit hawks instead claim we're cheating future generations by taking on debt. Their answer, of course, is to cheat them now so they're not so disappointed later.

This is What Happens When You Rip a Hole in the Safety Net (The Nation)

NND Editor Bryce Covert notes that despite the media's pearl clutching over rising dependence on disability and SNAP benefits, the explanation is simple: we've done little to halt the growth of poverty and plenty to ensure the poor have nowhere else to turn.

Let it Bleed? (Project Syndicate)

Brad DeLong writes that given the way the current U.S. economic crisis has dragged on and the amount of damage it's inflicted, calling it the Lesser Depression might be selling it short. What more could it do to earn its place among the all-time Greats?

Cyprus Is Doomed: Why the Country Must Leave the Euro Immediately (The Atlantic)

Matthew O'Brien argues that the bailout/bail-in deal Cyprus and the Troika have negotiated is a fool-proof plan to crush the Cypriot economy with more austerity, hobble its financial sector, and saddle it with a universal currency that can't leave its borders.

The Debate on Bank Size Is Over (NYT)

Simon Johnson writes that while it may be in lobbyists' best interests to pretend the jury's still out on ending "too big to fail," watching Cyprus's banks trigger the country's self-destruct sequence should explain why most serious policymakers disagree.

Stop subsidizing Wall Street (WaPo)

FDIC vice chairman Thomas Hoenig argues that it's time for banks to stop relying on the American public as an all-purpose safety net and insurance policy. If they really believe in taking huge risks, there's no need for them to keep living vicariously through us.

The Weeklies (Prospect)

Monica Potts profiles a group of families in the suburbs of Denver who were left homeless by the Great Recession and forced to live week to week in a cheap hotel, trading in their dreams of white picket fences for mismatched bed sets and a mini-fridge.

Libertarians name North Dakota "most free" state (Salon)

Alex Pareene notes that the libertarian Mercatus Center has identified North Dakota as America's little slice of heaven. With its low tax rates and lax regulations, it's a wonder people choose to live anywhere else. But they do. They definitely, definitely do.

Tim Price is Deputy Editor of Next New Deal. Follow him on Twitter @txprice.

Originally posted to Daily Kos Economics on Fri Mar 29, 2013 at 06:44 AM PDT.

Also republished by Daily Kos.

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Comment Preferences

  •  One way to ensure that the casino (2+ / 0-)
    Recommended by:
    Odysseus, shaharazade

    ..doesn't always win and take your money - is not to play.

    The other way includes cleaning up the mess after it's burned to the ground.

    For Christ's sake, let's help more of our frightened people get through this thing, whatever it is - Kurt Vonnegut on our "faithless custodians of capital"

    by Anthony Page aka SecondComing on Fri Mar 29, 2013 at 09:12:11 AM PDT

  •  it's a wonder people choose to live anywhere else (1+ / 0-)
    Recommended by:
    Chitownliberal7
    Alex Pareene notes that the libertarian Mercatus Center has identified North Dakota as America's little slice of heaven. With its low tax rates and lax regulations, it's a wonder people choose to live anywhere else. But they do. They definitely, definitely do.
    The libertarians believe that generations of handouts and overregulated and inefficient markets have crushed Americans' pioneer spirits, while the rich can afford to eat the costs of the high-tax areas they live in and hire people to navigate the red tape ... not least because the taxes (which everyone pays) subsidize their high expectations of services.

    Sorry, you hear this crap often enough and it sinks in whether you believe it or not.

  •  Kurgman's column (0+ / 0-)

    today is great. He debunks the newest rationale/ talking points put out by the VSP in regards to SS, Medicare reform. As always he gets right down to the heart of the matter, economically and simply.  

    I also really liked Byrce Covert's piece 'This is What Happens When You Rip a Hole in the Safety Net'. It's just not that complicated the economy doesn't pay enough for ordinary people to earn a living.

    Thanks Roosevelt Institute for posting here.Your diaries and links are really needed to counteract the by-partisan political side show. It's always good to hear what's being written around the inkwell.  

  •  DeLong calls for an old solution to a new (0+ / 0-)

    situation, but, otherwise, kudos for bluntly calling the current  economic crisis what it is: a depression for everybody but economists and those who rub elbows with them.

    I only wish this were a Greg Dworkin forum...he is constantly marveling at the way the administration saved us from a depression and I am constantly reminding him that it didn't save everybody from one.

    LG: You know what? You got spunk. MR: Well, Yes... LG: I hate spunk!

    by dinotrac on Fri Mar 29, 2013 at 12:46:48 PM PDT

  •  Hey, Krugman - slashing Medicare is a great idea, (1+ / 0-)
    Recommended by:
    Greg Dworkin

    but only if you do it right.

    What's right?

    By actually doing what the Democrats said they would do when they passed the ACA -- reform health care.

    There were 2 big related problems with American healthcare prior to ACA:

    1. Lots of people couldn't get it, and
    2. The rest, directly or indirectly paid way too much money for it.

    ACA made a dent on 1, not so much on 2.

    Bring American health care costs in line with the world's best health care (we're presently about twice the price of the best health care systems in the world), and you can cut Medicare radically AND improve the quality and availability of care available to its recipients.

    Health care reform: STILL a good idea.

    LG: You know what? You got spunk. MR: Well, Yes... LG: I hate spunk!

    by dinotrac on Fri Mar 29, 2013 at 12:52:54 PM PDT

    •  you are a stubborn old coot, aintcha? (1+ / 0-)
      Recommended by:
      dinotrac

      are you arguing for single payer? I agree. Is the problem with medicare really a problem with health care in general? Yes, of course. Does ACA help and not hurt the direction we are going by cutting costs and injecting evidence based medicine? yes, it does.

      That's a far cry from "ACA sucks".

      "Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly and applying the wrong remedies." - Groucho Marx

      by Greg Dworkin on Fri Mar 29, 2013 at 05:23:40 PM PDT

      [ Parent ]

      •  Single payer is vastly over-rated, but I'm (1+ / 0-)
        Recommended by:
        Greg Dworkin

        not so much opposed to it as unimpressed by it.

        I think I'd rather see the dreaded "socialized medicine", or just about anything that would kill off the nasty deadly referring physician -> specialist -> another specialist circle jerk we have now. Professional collaboration is a good thing.

        I grew up with government health care as an Air Force dependent, and it seemed a decent model.  The goal was to get and keep people well, not to tick up procedures.  The Mayo Clinic works much the same way.

        LG: You know what? You got spunk. MR: Well, Yes... LG: I hate spunk!

        by dinotrac on Fri Mar 29, 2013 at 07:51:55 PM PDT

        [ Parent ]

  •  "Libertarian" study on freest states (0+ / 0-)

    Heads up that the Libertarians are making fun of this study from a non-libertarian 'libertarian' group that has nothing to do with Libertarian civic concerns. Ignoring the anti-abortion issue is the tip off.

    The non-partisan Libertarian International Organization @ http://www.Libertarian-International.org  has Libs in every country working on spreading secular liberal democracy, rights, and legalizing Libertarian eco-communities such as co-housing....

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