The debt-ceiling fight is about politics, not policy. But
count on the news media to conflate the two—in service of the trope that everyone just needs to meet in the middle of wherever they
are right now.
"In these tough times, Americans are tightening their belts—and their
government needs to do the same." This bipartisan applause line is pithy, full of populist empathy and easy to
understand. It's also exactly wrong.
A new Century editorial argues that unemployment, not the budget deficit,
is the most urgent economic problem facing the U.S. We need to deal with the
deficit at some point, but first we need to get people back to work by
stimulating the economy.
Last month I posted about Rais
Bhuiyan, the Muslim hate crime victim who is advocating
that his attacker, who shot Bhuiyan as part of a post-9/11 shooting spree in
which two other victims were killed, be spared the death penalty.
Dan Price, owner and chief executive officer of Gravity Payments, has cut his salary and given each of his employees a $70,000 wage. This move raises the salaries for more than half of the 120-person staff at his credit card processing company in Seattle. Many business leaders have criticized his move. Rush Limbaugh called it socialist, predicting the company would fail. Tim Kane, an economist at the conservative Hoover Institute at Stanford University, said, “It will reduce turnover, increase morale, and help him build an even greater company.” The day after the new wage plan was made public, Price received letters from 3,500 job applicants, and Gravity signed up several new clients (New York Times, April 19).