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Paul Ryan’s Hammock

9:59 am in Uncategorized by Eric Laursen

How stands the Social Security discussion in Washington following State-of-the-Union night? More or less where it was before. Which, for defenders of the program is mostly not good.

President Obama honored his pledge to congressional Democrats over the previous weekend not to endorse cuts to the program. In fact, he went a bit farther, rejecting any plan that would include “slashing benefits for future generations.”

There’s more to say about that. But first, what about Paul Ryan and that Michele Bachmann? Neither of them mentioned Social Security. TV’s talking heads, both before and after the SOTU and the two response speeches, couldn’t stop repeating themselves that the Republican leadership had a big problem: the Tea Partiers were out of control and embarrassing the party with their obstreperousness and their fringe views.

Nonsense. Bachmann’s speech was if anything less of a fire-eating act than Ryan’s, mostly confined to self-congratulation at the Tea Party victories in November, statistics about unemployment and the national debt, and an invocation of the raising of the flag at Iwo Jima (more than 65 years ago). Her actual policy positions were completely unsurprising: repeal Obamacare, pass a Balanced Budget Amendment, cut spending to create a “leaner” government.

Nothing Bachmann said veered even slightly from the official position of the Republican leadership. If anything, the party benefited from her speech, since it allowed them to use prime TV airtime to appeal directly to Tea Party voters who were perhaps turned off by the leadership’s propensity to make deals with the administration during the recent lame-duck session. She’s not a rebel. She’s a bridge to the new wave for Boehner, McConnell, and company. . . . Read the rest of this entry →

“Inside Job” – See This Movie!

12:34 pm in Uncategorized by Eric Laursen

Charles Ferguson has made a documentary that must be seen if you want to understand why the same people who let the housing bubble and the 2008 financial meltdown happen are still in charge. But if you can’t go out and see Inside Job right away (it opened in New York and Los Angeles Friday), read Ferguson’s article, “Larry Summers and the Subversion of Economics,” summarizing his case in the Chronicle of Higher Education.

The thesis of Ferguson’s film (a trailer is available here; a New York Times review is here) is simple, and astonishingly obvious: economics, as a profession, has been subverted by its proximity to power and money.