Pop quiz. What government is this paragraph about…?
You'll hear a lot of talk-show wailing and pundit whining. Columnists will scold, myself probably included. But these people in the Capitol can't help themselves….This is not being derogatory. It's being realistic in the current climate of political and public polarization, and a system structured for paralysis. It's in the cards and the cards are stacked…Budgets for the foreseeable future, as they increasingly have been, will be painful patch jobs stitched with gimmickry.
If you said California, full credit! If you said the federal government, well, you’re disturbingly on the right track—partial credit with the option to appeal in five years.
Speaking of the federal government, James Kwak and Jon Taplin note that the short-term budgetary situation isn’t too bad—and interest rate payments on bonds aren’t as big a deal as this New York Times article makes it seem. I agree, but I wouldn’t poo-poo it as much as Taplin does (hint: the carry trade). Paul Krugman also joins in on the fun of “not a big deal.” Well, I guess I agree…
This Ta-Nehisi Coates post on the war on terror is enough to outrage, also.
This article on the style of the aughts, the noughties, is kind of interesting and fun. I have to side with the iPod, IKEA and Target: a distinct set of design values for all of them, intended for the upper-middle-class (and aspirant) masses.