Krugman: GOP brinksmanship against Americans
Posted by AzBlueMeanie:
Paul Krugman blogs at the New York Times, To The Brink, Again:
If John Boehner
is to be believed — which, admittedly, is a real question — Republicans
are once again willing to push America into default and/or shut down
the government if they don’t get their way. As Greg Sargent
points out, this is amazing — and what’s equally amazing is how this is
being treated as normal. Politics ain’t beanbag; but “I’ve got a bomb
strapped to my chest, and the whole room gets it if you don’t hand over
the money” is not normal tactics, especially if pursued repeatedly.
* * *
To the extent that there ever was an economic justification for this
brinksmanship — the claim that we were on the verge of a debt crisis,
the claim that slashing spending would boost the economy — that
justification has collapsed in the face of declining debt projections
and overwhelming evidence that austerity has large negative impacts in a
slump.