Tag: yep

The first [thing Michael Jordan’s oddly vindictive Hall of Fame induction speech makes clear] is that this induction was a formality that Jordan couldn’t enjoy the way a normal man might, since he’d lived almost half his life certain this moment was inevitable (it was like finally receiving a plaque for something he’d done in 1994). The second is that this speech was the last time anyone would think about Jordan as a living basketball player, and he knew it. Obviously, we’ll never stop talking about Jordan’s career, but — from now on — it will almost always be in reference to someone else.

Chuck Klosterman, writing for Grantland. One of the more perceptive paragraphs about sports (in general) and people like Jordan (in particular) that I’ve read.

In the same way that Wall Street hoovering up a third of all corporate profits is the new normal. Or that 9% unemployment is the new normal. Or that obstruction, rather than legislation, is the new normal for Congress. Or that massive spending cuts during a recession is the new normal. Or that conducting three overseas wars at the same time is the new normal.

The new normal kind of sucks, doesn’t it?

Kevin Drum reflects on the “new normal.”
I think this phenomenon, more than anything explains why we’re going to default. Maybe not this time, but sooner than later. And even then, in the economic ruins that follow, there’s only a passing chance that the important lesson, the moral of the story will sink in.
More likely it’ll be blamed on ACORN, the EPA, and dread socialist fifth columnists and so forth. But I just don’t see how the boil gets lanced without the paroxysm. And, even then, the end result may be that the boil is simply inflamed further.

We’re at 15 percent revenue, and historically it’s been closer to 20 percent. We’ve never had a war without a tax, and now we’ve got two. Absolute bullshit.

Alan Simpson, former Senator from Wyoming and a Republican, reflecting on the state of the GOP and their “negotiating” posture.
Source: Slate

So when the GOP’s economic policy team sat down to make the strongest case they could for growth-inducing deficit reduction, they recommended a mix an 85:15 mix, not a 100:0 mix. And then, when the Obama administration agreed to an 83:17 mix, the Republican leadership walked out of the room and demanded that taxes be excluded from the deal altogether. How do you negotiate with that?

Ezra Klein asks the right questions.
Source: Washington Post

Article 1, Section 8 of the Constitution is pretty simple. It says, ‘Raise an army.’ It says absolutely nothing about race, color, creed, sexual orientation.
You all joined for a reason: to serve. To protect our nation, right?
“Yes, sergeant major,” Marines replied.
How dare we, then, exclude a group of people who want to do the same thing you do right now, something that is honorable and noble?
[…]
Get over it. We’re magnificent, we’re going to continue to be. […] Let’s just move on, treat everybody with firmness, fairness, dignity, compassion and respect. Let’s be Marines.

Sgt. Maj. Micheal Barrett, the recently named adviser to Marine Corps Commandant Gen. James Amos, who pretty clearly needs to give this same talk to the next GOP caucus in DC.
Source: The Wall Street Journal

What Ezra Said

Mitt Romney: We have all been distressed by the policies that this administration has put in place over the last two years. We have seen the most anti-investment, antigrowth, antijob strategy in America since Jimmy Carter. The result has been it’s harder and harder for people to find work.
Ezra Klein: By any measure, this is absurd. Taxes are at a 50-year low. The Dow has staged a roaring recovery. Business profits are near record levels. And the economy has gone from losing 780,000 jobs a month to gaining about 160,000 jobs a month. That is to say, it’s getting easier and easier for people to find work, even if it’s not nearly easy enough.

The fact that I’m in favor of going back to the Clinton tax structure is merely an indicator of how scared I am of this debt problem that has emerged and its order of magnitude.

Former Fed Chairman Alan Greenspan, an enthusiastic supporter of the Bush-era tax cuts for the rich, now supports raising top marginal tax rates on high earners. Last week, Joel Slemrod, a top economic adviser to Ronald Reagan, said the same thing. (via andrewgraham)
One wonders just how many seconds will elapse until FOXnews is running “Greenspan: Just how insane was he?” documentaries 24/7. May already be live.

Today’s seniors and near-seniors spent much of their working lives in that postwar world, with their incomes rising, investments gaining, their health increasingly secure, and their retirements predictable. Everyone 55 and younger spent his or her entire working life in an economy where all those trends had stalled or reversed […] The Ryan plan, in other words, delivers to the older generation exactly what they’ve had all their lives — secure and predictable benefits — and to the next generation, more of what they’ve known — insecurity and risk.

Mark Schmitt, writing for The New Republic.
Yep. This sort of “I’ve got mine, time to raise the ladder” thinking pretty much defines the modern GOP. No surprise it’s also trending their mean voter age higher and higher and higher. Sustainable!
Source: tnr.com