I’m not an economist. Math and I don’t get along. So I don’t have anything intelligent to add to the specifics of the current Progressive Freakout™ over the fiscal cliff negotiations. But one thing I’ve learned over the past couple years is that those screaming loudly about President Obama caving on this or that tend to be wrong, and embarrassingly so.
The biggest example is the Bush tax cut deal from December 2010. Mainstream progressives screamed that Obama had sold us out, totally ignoring that Obama made the deal with an obstructionist GOP in order to extend unemployment insurance that millions of American relied upon to, you know, live. (Notably, those screaming the loudest had no skin in the game.)
Chained CPI and the Fiscal Cliffs of InsanityPost + Comments (171)