Frankly, half of [the automatic cuts] is aimed at national security. Leon Panetta, our Secretary of Defense says that will hollow out our defense. So number one I would be committed to keeping the $1.2 [trillion in automatic cuts]. We’ve got 13 months to find a smarter way to do it.

Jeb Hensarling, (R, TX) GOP chair of the “Super-committee” reassuring everyone that the automatic cuts scheduled by the all but inevitable failure of the “Super-committee” will, in fact, be coming out of Medicaid, Social Security, and Medicare. The latter two are the only places left to get this kind of money, assuming the non-military discretionary budget isn’t simply zeroed. Medicaid will be included simply out of spite.
Anyone bothered by this funding structure can (and will) kindly go die in the streets.
But Obama sure uses a lot of drones!!!! Drones, everyone, DRONES!!! Must vote for Ron Paul or other meaningless candidate because there’s no moral imperative at all implicit in keeping a social safety net in place for millions by keeping the semi-sane in charge of at least some part of the government post-2012.
Source: tpmdc.talkingpointsmemo.com

the current hand wringing about the administration’s pledge [not to raise sub-$250k tax rates] feels like a distraction…especially given that we could achieve medium term sustainability without going there.

Jared Bernstein agrees that we can achieve neutral debt/GDP ratios without savaging middle class rates. Serious People sure love to wring hands. It’s as though they have a vested interest in the tax rates of the trans-$250k class. Oh, right.

Again with the Middle Class

It’s almost as if our media aristocracy of inbred Serious People have a vested interest in seeing to it that the middle class, and only the middle class, gets soaked in any economic “compromise.” Amidst reacting to a particularly poor NYT Magazine piece, Dean Baker nails it:

…the piece too quickly dismisses the possibility of getting substantial additional tax revenue from the wealthy. It presents the income share for those earning more than $1 million as $700 billion, saying that if we increase the tax rate on this group by 10 percentage points (from roughly 30 percent to 40 percent), then this yields just $70 billion a year.

However, if we lower our bar slightly and look to the top 1 percent of households, with adjusted gross incomes of more than $400,000, and update the data to 2012 (from 2009), then we get adjusted gross income for this group of more than $1.4 trillion. Increasing the tax take on this group by 10 percentage points nets us $140 billion a year. If the income of the top 1 percent keeps pace with the projected growth of the economy over the decade, this scenario would get us more than $1.7 trillion over the course of the decade, before counting interest savings. Of course there would be some supply response, so we would collect less revenue than these straight line calculations imply, but it is possible to get a very long way towards whatever budget target we have by increasing taxes on the wealthy.

Shocking. And but also, Baker smartly includes the most important issue in any truly serious discussion of American economics and the proper balance of same: the cost of health care:

We pay twice as much per person as people do in other wealthy countries. Since more than half of the tab for our health care is paid by the government, our broken health care system becomes a budget problem. If we paid the same amount per person for our health care as people in other wealthy countries, we would be looking at long-term budget surpluses rather than deficits. The reason that we pay so much more is not that we get better outcomes – we don’t generally. Rather it is that we pay too much to drug companies, hospitals, medical specialists, and others in the health care industry.

Baker’s being generous. We spend as much as five times more per capita than the best performing countries do, all of which achieve uniformly better outcomes than we do. Obviously, the only possible answer here is just get Big Guvmint out of the way so the poor can kindly go die in the streets. It’s the only serious answer to the problem. Well, that and lowering taxes on the wealthiest 1% of the country.

Read the whole thing.

Again with the Middle Class

The question of whether the Herman Cain sexual harassment story will hurt his presidential campaign sort of misses the point that there is no Herman Cain presidential campaign. There are certain things you do when you run for president. You try to raise a lot of money. Cain is not doing that. If you can’t raise a lot of money, you campaign heavily in early primary states, trying to get some early success that can snowball into later primaries. Cain isn’t doing that, either. You hire a staff of political operatives. You at least pretend to know something about world affairs. You try to attract as many people as possible to your events. Cain, by contrast, frequently charges admission.

Cain is executing a business plan. It’s an excellent plan. The plan involves Cain raising his profile as a conservative personality, which he can monetize through motivational speaking, book sales, talk shows, and other media. Cain’s selling point is that he’s a black conservative who can capitalize on the sense of white racial victimization that has mushroomed during the Obama era. Accordingly, Cain assures conservatives that they are not racist, as proven by their support for him. Indeed, it is the liberals who are racist, as evidenced by their opposition to Cain.

If Cain were campaigning to be president, the scandal would hurt him. Since he is instead campaigning to boost his profile, it will help him.

Jonathan Chait clearly and succinctly tells you everything you need to know about the Cain Train.

On the domestic side, both Democrats and Republicans have really made it very difficult for the president to be anything like a chief executive. This has led to a kind of frustration.

Bill Daley, White House Chief of Staff. This is why they fail.
Anyone, and I mean anyone who holds this opinion, much less speaks of it to a journalist of any stripe, should resign immediately or have been fired long ago. You think this is frustrating Bill? You think “your” side is equally to blame? Then go the fuck home. You are part of the problem and we’ll get nothing truly worthwhile done until everyone who thinks like you has long since left the scene.
Source: tnr.com

Yeah, I’ve drank bathtubs full of hooch, but I never craved it. I didn’t drink because I was depressed or anything. I used it because funny things tended to develop when I was drinking. It took me a while to see how repetitive it is, how people do and say the same things at a bar. Now, maybe I’ll have a drink, maybe a beer once a month at the most, when me and Dian go out.

I had a strange relationship with the bottle. I never met anyone who drank as often as I did, but who did it purely for recreation. To me, going to the bar was like going to the circus every day.

Pete Dexter, journalist, novelist, writer, and former circus aficionado on his relationship to hooch and hooch purveyors.

Dear NPR,

Compare and contrast Jonathan Chait’s approach to Paul Ryan’s fantasyworld with dread Liberal Mouthpiece NPR’s view from nowhere approach in which Ryan is simply allowed to say whatever he wants, without challenge or even follow up of any kind.

Day by day, hour by hour, brick by brick NPR is building its own tomb. Once they’ve chased off all thinking individuals from their “coverage,” a defunding move by the GOP will be a non-event. NPR has vastly higher listenership than FOXnews and still, occasionally, reports facts. Therefore NPR must cease to exist. This is who they are. This is what they do. They want to destroy you, NPR, and you are going out of your way to help.

Dear NPR,

…this is the way the right goes after everyone who stands in their way: accuse them of everything, no matter how implausible or contradictory the accusations are. Progressives are atheistic socialists who want to impose Sharia law. Class warfare is evil; also, John Kerry is too rich. And so on.

Paul Krugman, sole member of the mainstream media who seems to understand this simple concept.
Source: The New York Times