Paul Krugman | Trump Hits the Panic Button





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13 September 19

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13 September 19
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Economist Paul Krugman. (photo: Nurphoto/Getty Images)
Paul Krugman, The New York Times
Krugman writes: "It's now clear that Trump's in full-blown panic over the failure of his economic policies to deliver the promised results."

EXCERPT: 

Trump thinks that federal debt is like a business loan, which you can pay down early to take advantage of lower interest rates. He’s clearly unaware that federal debt actually consists of bonds, which can’t be prepaid (which is one reason interest rates on federal debt are always lower than, say, rates on home mortgages). That is, he imagines that the government’s finances can be managed as if the U.S. were a casino or a golf course, and it never occurred to him to ask anyone at Treasury whether that’s how it works.

But while Trump realizes that he’s in trouble, there’s no indication that he understands why. He’s not the kind of person who ever admits, even to himself, that he made mistakes; his instinct is always to blame someone else while doubling down on his failed policies.



Greta Thunberg speaks at a climate protest outside the White House in Washington D.C., on September 13. (photo: Nicholas Kamm/AFP/Getty Images)
Greta Thunberg speaks at a climate protest outside the White House in Washington D.C., on September 13. (photo: Nicholas Kamm/AFP/Getty Images)

'If You Did Your Job, We'd Be in School': Greta Thunberg Joins White House Climate Protest
Max Cohen, USA TODAY
Cohen writes: "After calling out politicians for climate inaction on 'The Daily Show' this week, teenage climate activist Greta Thunberg is protesting Friday outside the White House to demand the U.S. government address the affects of climate change."
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A healthcare rally. (photo: Health Care for All)
A healthcare rally. (photo: Health Care for All)

Medicare for All Would Cut Poverty by Over 20 Percent
Matt Bruenig, Jacobin
Excerpt: "Medicare for All doesn't just provide everyone with the care they need, free of charge. It's also a potent anti-poverty program, reducing poverty by over 20 percent and increasing poor people's incomes by 29 percent."
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Guatemalan immigrants. (photo: The Intercept)
Guatemalan immigrants. (photo: The Intercept)

With Trump in Office, Newspapers Increasingly Quoted Anti-Immigrant Groups Without Explaining Who They Were
Maryam Saleh, The Intercept
Saleh writes: "Ninety percent of news articles in the New York Times, Washington Post, Los Angeles Times, and USA Today that cited the Center for Immigration Studies from 2014 to 2017 did not mention 'the extremist nature of the group or its ties with the Trump administration.'"
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Beto O'Rourke. (photo: Justin Sullivan/Getty Images)
Beto O'Rourke. (photo: Justin Sullivan/Getty Images)

'My AR Is Ready for You': Texas Lawmaker Threatens Beto O'Rourke Over Gun Control Proposal
Antonia Noori Farzan and Kayla Epstein, The Washington Post
Excerpt: "Beto O'Rourke has already backed mandatory buybacks for assault weapons, but at Thursday's Democratic debate, he left no ambiguity about what that would mean. 'Hell yes, we're going to take your AR-15, your AK-47,' he said."

Speaking to reporters after the debate, O’Rourke said that Cain’s comment “sure reads” like a death threat. “I think it’s a really irresponsible thing for him to do,” he added, “especially somebody who is a public servant and in a position of public trust to be sending that kind of message.”
Cain, an attorney, frequently uses his official social media accounts to air inflammatory and hyperbolic views. On Wednesday, for instance, he suggested on Twitter that the Texas legislature should “abolish” the famously liberal city of Austin.


A vigil held in memory of slain journalists. (photo: Orlando Sierra/Getty Images)
A vigil held in memory of slain journalists. (photo: Orlando Sierra/Getty Images)

12 Journalists Have Been Killed in Mexico This Year, the World's Highest Toll
Carrie Kahn, NPR
Kahn writes: "This year, Mexico surpassed Syria to become the deadliest country for journalists."
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People wade through flood waters in a rural neighborhood affected by Cyclone Idai on March 24. (photo: Andrew Renneisen/Getty Images)
People wade through flood waters in a rural neighborhood affected by Cyclone Idai on March 24. (photo: Andrew Renneisen/Getty Images)

Record 7 Million People Displaced by Extreme Weather Events in First Half of 2019
Olivia Rosane, EcoWatch
Rosane writes: "The number was nearly double the number displaced by conflict and violence during the same period this year."
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