Almost a month ago, Noah Smith wrote an article that really struck me, Free-Market Ideology and the Burden of Proof. I’m kind of shocked that it took me this long to write about it, but I think I had to let it sit in my mind for a while. It’s one of those things where what he is saying is obvious in retrospect. Basically, he posits that the Reagan revolution was super keen. All that lowering of taxes and cutting of regulation worked great and it created a great economy. (This is not true, of course.) But even if that’s true, why should we think it is still true? If cutting taxes in half caused an economic boom, why would cutting them in half again do the same thing?
The thing is that we have had a history since Reagan. Both Democrats and Republicans have done the same things. Clinton deregulated the financial industry and it didn’t help, except in allowing a huge housing bubble to form that brought down the entire economy. And Bush’s big tax cuts created incredibly disappointing economic growth. As Smith put it, “Reagan probably picked a lot of the low-hanging fruit.” But as Paul Krugman put it last Friday in regard to a different Noah Smith article, “In terms of the economy, his record is trumped by Bill Clinton’s on every front: GDP growth, job creation, family incomes.”
What’s shocking is that the Republican Party is stuck at Ronald Reagan. I commonly hear Republican politicians claim that Democrats are stuck in the past and have no new ideas. Clearly, it is the Republicans who just refuse to listen and are still hearing what George McGovern ran on in 1972. As for what ideas the Republicans have, they are exactly what Reagan and Kemp were pushing. It’s still supply-side economics: if only we make it easier for the rich, it will help everyone.
In the meantime, the Democrats went through a revolution of thought. I’m not keen on it, and I’m glad to see it receding to some extent. But it is still true that Democrats are very open to neoliberal ideas. If they can solve a social problem through the private sector, they will. Just look at Obamacare. The only way that Republicans have changed is in that they are now simply against solving any social problem. They are more focused on trying to turn back time and destroy everything that was done in the New Deal and the Great Society.
So the question is why we continue to accept this rhetoric from conservatives. The economy was pretty good under Reagan. This was mostly due to the Federal Reserve, but I understand that most people give credit to Reagan and his policies. But Clinton raised taxes and had an even bigger boom. And then Bush ran the whole Reagan playbook and had mediocre results — even before the economic crisis. So why is it that Bush’s brother is considered a reasonable candidate, when he is pushing the same stuff? It seems like as voters, we are willing to let our political leaders do anything at all. It’s like we are playing a game of craps rather than electing people based upon policies.
On this day in 3114 BCE, the universe began. Or something. That was the start of the
A month and a half ago, The Journal Gazette reported about a disturbing story out of God’s country in Fort Wayne, Indiana,
Donald Trump has dominated the early phase of the Republican campaign. The Republican Party needs to put an end to it. The question going into the first debate was which candidate would take it upon himself to take down Trump. The answer is that none of them did. Fox News did the work itself, a division of labor that made sense for both sides. The candidates could refrain from alienating the Donald’s loyalists; and the moderators, who don’t need Iowans to tromp through the snow for them, can peel the bark off him. The Fox News moderators brutalized Trump with questions about his partisan loyalty he could not answer because there is no answer. Trump is in this race for himself, not for the party…
Regular readers know that I hate Ted Nugent. It is mostly just that he has an easy partisanship that is pure tribal identity. But there are so many facets to what is vile about him. And one thing that really bugs me is that he can make death threats regarding the president and nothing happens to him. Back in 2007
The problem is that if Ted Nugent were a Muslim with the same statements, he would have spent years in jail — twice. And all that says is that America has free speech as long as the speech is popular enough. And that means that we don’t actually have free speech. I am in the situation where the things I want to say are clearly inside the range of acceptable speech. But that’s hardly surprising. I’m a white male who grew up in the middle class. I don’t stray too far from that. I am the kind of liberal that such a background creates. So the fact that I feel unconstrained, means absolutely nothing.
Some conservative ideas are bad like raising the retirement age. It is just a way of cutting social security benefits without actually saying so. And given that the poor don’t live as long as the rich, it is an extremely regressive way of cutting social security. It would be far more fair to just cut how much money people get. But that would be admitting that it is a cut. Obviously, we need to call this sort of thing out. Delaying retirement by two years is what all the Republican candidates (except Trump) want to do. But at least it would save money.
On this day in 1990, the
It is a bit weird to go to the Wikipedia
The frozen nitrogen is constantly sublimating (turning directly from solid to gaseous form) into Pluto’s atmosphere. But it is in equilibrium, so the atmosphere is depositing onto the surface at the same rate. The atmosphere is made up of the same three compounds found in the ice: Nitrogen, carbon monoxide, and methane. Of course, there isn’t much atmosphere: just 0.001% as much as we have here on the earth. But still: notable. Plus: because of the effect of methane, the atmosphere gets warmer as you go up in the atmosphere (like in the Earth’s stratosphere), so that 6 miles up, it is 65°F warmer.
It’s always a pig in a poke. So why not a pig who pokes?
Dan Balz is the very definition of a Villager. The only time I’ve written about him was last year when he was making the same old,
If you listen to economists and politicians — especially those on the right — you will hear them talk excessively about economic growth. 
On this day back in 1969, the Manson family murdered