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Whether or not Congress passes some kind of carbon-taxing scheme that ushers in a true alternative-energy era, "sustainability" is going to be shaping individual and public-policy decisions. And I don't just mean eating locally grown foods, driving more fuel-efficient cars and using weird lightbulbs. Annual increases of 10% and 15% in real estate prices were not sustainable; endlessly lowering taxes and expanding government isn't sustainable; Medicare and the war on drugs as currently constituted are not sustainable. Sustainability in this sense is as much old-fashioned green-eyeshade Republicanism as it is newfangled kumbaya...
When he sings, "Why aren't you in the administration?/ Is there some kind of politicking that I don't understand?/I mean, Timothy Geithner is like some little weasel," his voice practically drips with despair - not unlike the despair Krugman recently felt about Tim Geithner's financial plan, come to think...
...while many have argued that health-care reform should be postponed until the economy is fixed, Baucus has put his foot on the accelerator with a declaration that he intends to see it passed in the Senate by August. "This is kind of why I hired out for this job," he told me on a recent morning in his Western-themed Senate office. "Now is the time. The stars are aligned...
...real question is, Are we going to have a huge deficit with investment or a huge deficit without investment?" said Senator Carl Levin, a Michigan Democrat, emerging from the meeting. "Those are my words, not [Obama's], but I'm kind of summarizing what the argument is here. If you eliminated his investments, you'd find the deficit would still be 80% or 90% of what it would be otherwise with his investment." In other words, since Washington is going to rack up massive deficits, it may as well go all in and get some long-term bang...
...Whether that kind of argument will convince fiscal conservatives and deficit hawks in Congress remains to be seen. Obama's visit to the other end of Pennsylvania Avenue came as the House and the Senate budget committees each introduced their own version of the bill, and less than a week after the Congressional Budget Office estimated that the 10-year shortfall would be $2.3 trillion greater than the White House's more rosy projections. Both chambers delivered on their recent promises to make sizable cuts to Obama's budget resolution, which is more of a blueprint for future spending than...