Follow BeltwayBlips on Twitter
Around the Web in 80 Seconds, 1.9.09
The Latest on Air America —
... Gupta and she has know problem telling you why. Okay. We know the economy is teetering over an abyss the likes of which we've not seen during most of working America's lifetime. As Nobel Laureate Paul Krugman warned a few days ago, it is imperative that we get this economic stimulus thing right. So, how's Obama do? I can't type the words (but note the lack of exclamation points). Lucky (or sadly) for you, Krugman did . Almost-Treasury Secretary Tim Geithner gets to work on ...
Your Abbreviated Pundit Round-up
Daily Kos —
The TGIF edition. Joseph Stiglitz: This year will be bleak. The question we need to be asking now is, how can we enhance the likelihood that we will eventually emerge into a robust recovery? Paul Krugman: Obama is absolutely right about the diagnosis, but falls short of applying the cure. Whatever the explanation, the Obama plan just doesn’t look adequate to the economy’s need. To be sure, a third of a loaf is better than none. But right now we seem to be facing two major ...
Krugman: Obama's Stimulus Doesn't Go Far Enough
Politics on HuffingtonPost.com —
... in his economic plan. Now he's adding a more general concern that the plan doesn't go far enough to fill the 'output gap' between what the economy can produce and what it can sell. While praising Obama's strong words in his speech Thursday, Krugman writes that "Mr. Obama's prescription doesn't live up to his diagnosis." ...
Krugman: Obama's Stimulus Doesn't Go Far Enough
The Huffington Post | Full News Feed —
... in his economic plan. Now he's adding a more general concern that the plan doesn't go far enough to fill the 'output gap' between what the economy can produce and what it can sell. While praising Obama's strong words in his speech Thursday, Krugman writes that "Mr. Obama's prescription doesn't live up to his diagnosis." ...
Krugman on The Obama Gap
The Agonist - thoughtful, global, timely —
... Stirling has pretty much been right about this one all along: Obama comes from the Chicago School and to the Chicago School tax cuts are everything. Here's Krugman: ...
Progressive Breakfast: Huge Job Loss Adds To Urgency
LiberalOasis : The Blog —
... Krugman.
Brooks:
This is daring and impressive stuff. Obama’s team has clearly thought through every piece of this plan. There’s no plank that’s obviously wasteful or that reeks of special-interest pleading. The tax cut is big and bipartisan. Obama is properly worried about runaway deficits, but he’s spending money on things one would want to do anyway. This is not an attempt to use the crisis to build a European-style welfare state.
Krugman:
...the C.B.O. says, however, that “economic output over ...
Two on Stimulus
Matthew Yglesias —
... Today’s a day when the NYT’s two columnists really deserve to be read in tandem. First check out Paul Krugman on why thinks Barack Obama’s stimulus plan is too timid and doesn’t contain enough money—or enough of the right kinds of money—to soak up the excess capacity in the economy. And then take a look at David Brooks’ view that ...
Obama will listen to Krugman
Michael Calderone's Blog —
... New York Times columnist Paul Krugman criticized the President-elect's economic plan in his piece today, "The Obama Gap." ...
Obama Defends Stimulus Against Critics
The Huffington Post | Full News Feed —
... Speaking as his aides were on the Hill trying to hammer out congressional agreement on a stimulus package, Obama said he would solicit advice even from New York Times columnist Paul Krugman, whose column today criticized the initial stimulus proposal as insufficient. ...
Obama Defends Stimulus Against Critics
Politics on HuffingtonPost.com —
... Speaking as his aides were on the Hill trying to hammer out congressional agreement on a stimulus package, Obama said he would solicit advice even from New York Times columnist Paul Krugman, whose column today criticized the initial stimulus proposal as insufficient. ...
Obama: ‘If Paul Krugman has a good idea…then we’re going to do it.’
Think Progress —
... .” In fact, today in his New York Times column, Krugman expresses skepticism at the effectiveness of Obama’s stimulus plan, in particular his ...
Paul 'It's Never Enough' Krugman Strikes Again: Stimulus Inadequate, Shouldn't Have Tax Cuts
NewsBusters.org - Exposing Liberal Media Bias —
... In his latest Times column ("The Obama Gap"), he chides President-elect Barack Obama for not being ambitious enough in his stimulus plan, and, heaven forbid, for including tax cuts in the mix. He complains that Obama is only committing to much less than half of what's necessary. ...
In Friday Presser, PEBO Introduces Intel Team and Talks Jobs
Political Punch —
Previous | Main In Friday Presser, PEBO Introduces Intel Team and Talks Jobs January 09, 2009 2:20 PM ABC News' Jake Tapper and Sunlen Miller report: President-elect Barack Obama held his second press availability of the week at his Transition office in downtown Washington, D.C., this morning, formally announcing his picks for his Intelligence team. Obama announced –- in person -- Leon Panetta to be director of the CIA and Retired Adm. Dennis Blair as director of National Intelligence -- to round out his intelligence and national security team. Deputy CIA director Steve Kappes was not in attendance, though all indications are that he ...
Obama remains open minded
Political Animal —
OBAMA REMAINS OPEN MINDED.... Barack Obama and his transition team have apparently been getting an earful the last few days about his economic rescue package being insufficiently ambitious. CBS News' Chip Read reminded the president-elect at a press conference this morning that Paul Krugman ...
Obama Promsises Cuts as Employment Staggers Under the Weight of Low Corporate Tax Rates
Firedoglake —
The recession neared 3 million victims last month, as upward revisions for November and October made it four straight months with at least 400,000 or more payroll positions lost. The December number was 531,000 private payroll positions. In all this recession has reduced private sector payrolls by 2,784,000 - that compares with 3,450,000 from the entire previous recessionary period which ran from January of 2001 until July of 2003. But the internals are the date were even worse: the long term unemployed doubled from 1.3 million to 2.6 million, and according to the household data 380,000 people left the work force. The ...
Obama Promises Cuts as Employment Staggers Under the Weight of Low Corporate Tax Rates
Firedoglake —
The recession neared 3 million victims last month, as upward revisions for November and October made it four straight months with at least 400,000 or more payroll positions lost. The December number was 531,000 private payroll positions. In all, this recession has reduced private sector payrolls by 2,784,000 - that compares with 3,450,000 from the entire previous recessionary period which ran from January of 2001 until July of 2003. But the internals are the date were even worse: the long term unemployed doubled from 1.3 million to 2.6 million, and according to the household data 380,000 people left the work force. The ...
Bigger stimulus
Daily Kos —
Paul Krugman argues for a bolder, larger economic recovery plan than the one offered by President-Elect Obama, and asks the following question: Why isn’t Mr. Obama trying to do more? As it turns out, Obama himself was asked this very same question on Wednesday, by CNBC's John Harwood. Obama said he understood that he was starting on the low end of what economists have said is needed and strongly indicated that the plan could grow. Harwood: If it's correct that, as your aides have said, the ...
Should Obama go for $1 trillion stimulus?
The Swamp —
... Some knowledgeable voices are calling for an economic stimulus of $1 trillion or more, saying anything significantly short of that won't be enough to revive the economy. Paul Krugman, the Nobel-Prize winning economist and New York Times columnist fits squarely in this camp and argued his position eloquently in Friday's New York Times. ...
1/12: Pressure From The Left
Blogometer —
January 12, 2009 1/12: Pressure From The Left With one week remaining before Barack Obama enters the White House, liberal bloggers are stepping up their pressure on the Pres.-elect. First of all, they're urging ...
Republican Study Committee Proposes Ineffective Tax Cuts, Destructive Spending Reduction For Stimulus
Wonk Room —
Setting foot on the trail blazed by the Chamber of Commerce, the Heritage Foundation and the Club for Growth, the Republican Study Committee (RSC) released its economic stimulus plan today. Dubbed The Economic Recovery and Middle-Class Tax Relief Act of 2009, the plan includes:
- Making the 15 percent capital gains tax rate permanent.
- Cutting the top corporate tax rate from 35 percent to 25 percent.
- A 5 percent across the board income tax cut for individuals.
- Indexing the capital gains tax ...
Jason Rosenbaum: Progressives: Stop Whining About The Recovery Plan and Actually Fight
Politics on HuffingtonPost.com —
Progressive bloggers need to stop complaining about the economic recovery package and start prodding their readers to make phone calls. And you, dear reader, should join me in calling our senators.
There are two reasons why Obama's economic recovery package needs to pass and why we, progressive bloggers and blog readers, should support it and call for action.
First, Obama must win this fight. I'm with Krugman, Stirling Newberry, and others -- I'm not sure this package is going to be big enough or bold enough to solve our economic problems. But I can tell you one thing for certain: If this bill gets defeated, there will ...
You Get The Recovery You Pay For
The Republic of T. —
From the beginning of this economic crisis, policy makers seem to have forgotten (or perhaps learned too well) a basic economic rule. It’s one I used to have paraphrased in a sign on my desk in a previous job: You can have it fast, you can have it cheap, or you can have quality. Pick any two.
Put another way: You get what you pay for, and you pay for what you get. Judging from the sizes of their campaign contributions, the ever-rising cost of the bailout, and the distressing lack of accountability (so far), the financial sector knows this well. From the deregulation and lack oversight that got us here, to the trend towards returning to ...
