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Yglesias

The Summers Factor

Conor Clarke writes that Barack Obama should listen more closely to what Larry Summers was saying about fiscal stimulus before the election. Congressman Peter DeFazio, by contrast, says Summers is the problem:

In some ways, I think both sides are right. The decision to squeeze infrastructure spending in favor of tax cuts isn’t a great idea. And it’s made worse by the fact that the tax cuts aren’t nearly as well-targeted as Summers’ pre-election advice would have suggested. There’s some good infrastructure money in the draft I’ve seen, and some good tax cut stuff in the draft I’ve seen (pertaining to the child tax credit and “making work pay”) but there’s too much in the way of poorly targeted business tax cuts hanging around. It would make more sense to divert that money in either direction.

Yglesias

So Influential

I’ll be on C-SPAN tomorrow morning from 8AM to 9AM alongside someone from the Heritage Foundation.

Media

My Assigment Desk

Elliot Spitzer uses his most recent Slate column to call for a renewed spirit of competition and innovation in American business. Yawn. You know what issue I’d like to see Spizter address? Prostitution. It’s illegal. But the laws against it are pretty sporadically enforced. And I think there’s a lot of sentiment that punishing people for consensual acts is wrong, and also that criminalizing prosecution leaves women exposed to violence, abuse, and rape at the hands of pimps and cops alike. At the same time, prostitution legalization hasn’t, where it’s been tried, exactly ushered in a utopia.

So what’s former prospector and former state attorney general Elliot Spitzer think about this? Does he think he deserves to be thrown in jail? The hooker he used to see? And if not, does that call for broader reform of the laws regulating prostitution? Or is there some principled reason why the laws should be on the books but not enforced in this particular case? Seems to me that if Slate‘s editors got him to address these issues they’d get a lot of traffic.

Politics

Conservatives’ 40-Minute Tribute To Bush On House Floor: He Was A ‘Knowing Lion’ Who ‘Walked Among Us’

George W. Bush is gone from office…but he is not forgotten, at least not by Reps. Trent Franks (R-AZ), Mike Pence (R-IN), and Steve King (R-IA). On Thursday, the three men spent almost 40 minutes delivering their final love letters to Bush. Some highlights:

– FRANKS: “President Bush often had to walk like a knowing lion — like a knowing lion, Mr. Speaker, through the chattering of hyenas. … [I]f those critics do not devour themselves in the meantime, Mr. Speaker, they may face the bared teeth of an enemy that will make us all wish the lion still walked among us.”

– PENCE: “I truly believe that this nation owes a debt of gratitude to George W. Bush.”

– KING: “I’m here to say thank you to President Bush for the things that he has done when he’s had his steady hand on the till of leadership, and especially with our national defense.”

At one point, Franks began to tear up when talking about how Bush made the country “brighter” and “more hopeful” for his children. Throughout the 40 minutes, they also compared Bush to Abraham Lincoln and Winston Churchill. Watch some highlights:

(HT: CSPAN Junkie)

Transcript: Read more

Economy

Conservatives: Forget Distressed Homeowners, Let’s Help The Real Estate Industry

home.jpgYesterday, House Republicans delivered an economic recovery plan to President Barack Obama. Along with the to-be-expected permanent corporate tax cut, the plan includes a $7,500 home-buyers credit, “in order to encourage responsible buyers to enter the market and stabilize [housing] prices.”

As the Center for American Progress’ Andrew Jakabovics noted, this credit has been pushed for by the real estate industry, and “will only save the average buyer the equivalent of a latte a month, which is not likely to incentivize anyone who is not already planning to buy a home.”

To address declining housing prices, the “flood of foreclosures” needs to be halted, but that is not something conservatives are willing to support. Instead, they’d rather craft a gift credit for special interests.

Climate Progress

NYT: Collapse of the Clean Coal Myth

The NY Times had a strong editorial this week on the painful reality that trumps the industry greenwashing — coal ain’t clean:

A month of negative news for the Tennessee Valley Authority could lead to positive changes in national policy, including federal regulation of toxic coal wastes and new legal constraints on coal-fired power plants. More broadly, the authority’s recent travails may help persuade the public that coal is nowhere near as “clean” as a high-priced industry advertising campaign makes it out to be.

Hear! Hear! (see The day ‘clean coal’ died). The whole piece is worth reading:

Read more

Yglesias

Europe: A Continent Full of Lovely Countries

Mitch McConnel warns that passage of the Employee Free Choice Act, permitting workers to form unions through a majority sign-up process rather than an election rigged by employers, would “Europeanize America”

My colleague Pat Garofalo correctly observes that it’s hardly just Europe that has more organizer-friendly labor laws—it’s pretty much everyplace you look including Canada, Australia, and all the rest. One might also add that the United States had a much higher level of union density back in the immediate postwar decades when growth was both more rapid and more broadly shared than it’s been in recent decades.

Beyond that, though, there’s some nice places in Europe. The big European economies of Germany and France both feature a lot of legislation aimed at deterring or preventing people from working long hours which, naturally, reduces overall output in exchange for increasing leisure time. Their workers are, however, highly productive—unions and all. And the small northern European countries such as Finland, the Netherlands, and Denmark combine high levels of unionization and a strong social welfare state with labor markets that feature more American-style flexibility. The result is societies that are wealthier than France or Germany but with much more equally shared wealth than we have in the USA. Relative to, say, Kentucky, Europe is a continent full of countries featuring better educated, healthier, longer-lived people, with lower poverty rates and dramatically fewer poor children. It isn’t, however, as friendly to the interests of rich people or business managers.

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