Christmas greetings from Krugman and Schiff

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Paul Krugman offers “Tidings of Comfort” in the New York Times:

“…Tiny Tim, is sick. And his treatment will cost far more than his parents can pay out of pocket. Fortunately, our story is set in 2014, and the Cratchits have health insurance… reform legislation enacted in 2010 banned insurance discrimination on the basis of medical history and also created a system of subsidies to help families pay for coverage.”

Fortunate indeed that Tiny Tim did not get sick in 2010-13 before the benefits kick in. Also fortunate – Krugman did not choose to use as an example the children of those who will lose their jobs as a consequence of the massive additional tax burden thrown on the back of the economy to pay for this bill. A tax burden that kicks in years before benefits are seen by Tiny Tim or his family.

Paul also joins the chorus for changing the rules in the Senate:

“But given the way the Senate rules work, it takes 60 votes to do almost anything. And that fact, combined with total Republican opposition, has placed sharp limits on what can be enacted. If progressives want more, they’ll have to make changing those Senate rules a priority.”

Like Rachel Maddow and Ezra Klein, Krugman is hell bent on making it much easier for the probable Republican majority in 2013-2016 to undo this bill than it was for the Democratic majority in 2009-10 to pass it. Ho Ho Ho.

While Krugman is brimming with good tidings and bubbling over with holiday cheer, from the other side of the political spectrum Peter Schiff is offering a dour double dose of “Bah Humbug.”:

Just because he was right in 2006-07 about the financial crash, and he was right in 2008 about the collapsing dollar and rising gold prices, it doesn’t necessarily mean he will be right in 2009. Does it?

Note to Peter:
I think your analysis is clear, cogent and correct. I even sent you a contribution for your Senate campaign. I’d love to see you be a libertarian voice in the Senate much like Ron Paul is the libertarian conscience of the House…


If you want to be the Senator from Connecticut, you are going to have to come across as something other than a humorless prophet of doom. You need to find a way to temper your message with at least a hint of optimism and – dare I say it? – “Hope”. As an example – Ron Paul’s media friendly phrase – “Freedom is popular.” Just saying…

You can’t get elected if all your supporters are suicidal.

Cross posted from “Divided We Stand United We Fall”