Paul Krugman
@paulkrugman
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Nobel laureate. Op-Ed columnist, @nytopinion . Author, “The Return of Depression Economics,” “The Great Unraveling,” "Arguing With Zombies," + more.
New York City
Joined October 2008
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Last Seen Profiles
Has anyone pointed out that Biden is capable of admitting error? That by itself puts him on a higher moral plane than you know who
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So did Trump just betray the Kurds because
(a) He has business interests in Turkey
(b) Erdogan, being a brutal autocrat, is his kind of guy
(c) His boss Vladimir Putin told him to
Remarkable that all three stories are perfectly plausible.
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America's response to the coronavirus is the worst in the world, which is shocking and has a lot to do with a leader who is completely unfit, temperamentally and intellectually, for the job 1/
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Susan Collins says she's concerned about deficits, and that's why she's voting for the tax bill. I'm watching my weight, and that's why I'm having a huge piece of pie with ice cream.
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Well, Bernie Sanders is now the clear favorite for the Democratic nomination. Lots of things to say about that, but the most important is that he is NOT a left-leaning version of Trump. Even if you disagree with his ideas, he's not a wannabe authoritarian ruler 1/
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I could be wrong, but somehow the Lysol moment feels like it could be a psychological turning point — the moment when even a lot of Trump diehards face up to his essential unfitness 1/
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Think about what it means that Jimmy Kimmel has evidently done more homework on health than any Republican senator over the past 8 years
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Undoing Roe is awful. Kneecapping environmental regulation is existential. This Supreme Court has just come down on the side of civilizational collapse.
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By the way, if you're wondering why coverage of the huge marches yesterday seems kind of muted, it's because those hundreds of thousands weren't sitting in diners in small-town America, and therefore don't count. Also many of them were women.
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Remember: the two main means-tested programs in America are Medicaid and SNAP (food stamps). In each case most beneficiaries are children, elderly, or disabled. The idea that we're handing out billions to lazy bums is false and slanderous.
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I'm old enough to remember when Presidential Medals of Freedom were given for showing courage and making sacrifices on behalf of the nation and the world. Tiger Woods ... hits golf balls for money
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I don't know if anyone else has said this, but payroll tax cuts are the hydroxychloroquine of economic policy. They won't do anything to solve the employment crisis, but will have dangerous side effects. Yet Trump remains obsessed with them as a cure 1/
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Not really tracking this whole Pelosi-as-speaker thing. But really: the most effective speaker in modern history, who just oversaw a highly effective campaign, and is still vigorous. Yes, Republicans demonize her. So? Why on earth not use her demonstrated skills for now?
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So I'm reading that Elon Musk, who founded Tesla in 2003 and first had a profitable year in 2020, is concerned that Build Back Better might, for a while, add modestly to the budget deficit while it invests in children and the environment
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Did I miss Trump saying something about the killing of Judge Esther Salas's son? Or did he exhaust his reserves of compassion feeling sorry for Ghislaine Maxwell?
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So two members of the world's greatest deliberative body claim that the president of the world's greatest nation isn't a racist because he said "shithouse", not "shithole". The descent of the GOP is now beyond parody.
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I read the news today, oh boy. Shocked at how little there is about the anti-democratic coup in Wisconsin. A once-progressive US state has just been turned into Hungary on the Great Lakes. Where's the wave of outrage?
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Ok, I’ve had my second cup of coffee, so it’s time to change my outfit twice and sign some blank sheets of paper
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Let's be clear: a candidate for president promised to put his opponent in jail if he wins. Everything else is secondary.
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By now we were supposed to have a fading pandemic and a roaring recovery. Instead we have a fading recovery and a roaring pandemic. And its all about bad leadership.
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Can Ron DeSantis effectively challenge Trump? I have no idea. But one thing I hope doesn't get forgotten in the horse-race coverage is DeSantis's major achievement as governor: the unnecessary death of around 20,000 Floridians 1/
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The 2020 campaign so far:
Trump: I'm racist. Vote for me!
Voters: No thanks. Also, Biden might keep us from dying.
Trump: But I'm really, really racist! You have to vote for me!
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Their insecurity in the face of a bright, charismatic woman of color is spectacular. I particularly like the constant claims that she's stupid when, let's face it, the average GOP House member knows as much about policy as the average house pet.
It's just astonishing how much time and effort the entire Republican establishment has put into deconstructing every sentence
@Ocasio2018
says, even as they nod their heads silently at every nonsensical utterance coming out of the White House.
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Says the guy whose company was bailed out by the Obama stimulus and currently has a multi-billion dollar government contract
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So the FBI raid on Mar a Lago was just a fission expedition?
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A prediction about masking: Soon we'll be seeing many incidents in which those who choose to protect themselves with KN95s etc face harassment, even violence. Because this was never about freedom.
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Remember how Trump became presidential three days ago, because he managed to read right through a speech without grabbing any body parts?
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This seems like a moment to remember that Hillary Clinton lost largely because the media treated her -- legal -- use of a private email server as a huge scandal, giving it more coverage than all Trump scandals combined
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I've seen jokes about Liz Cheney as speaker, but seriously: why can't this end with 7 sane Republicans joining Democrats to elect someone who isn't totally despicable?
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Naive question. McConnell would probably have his bill if he hadn't gotten greedy and included that slush fund, and could now be boasting about how he and Trump rescued the economy. Why didn't he do that? Why doesn't he split off the slush fund now? Is cronyism that important?
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Not the only one saying this: Puerto Rico and USVI contain millions of US citizens. Why aren't Congress and WH focused on disaster relief?
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Cholera. In a US territory. Among US citizens. In the 21st century. Heckuva job, Trumpie.
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The GOP's success in demonizing Nancy Pelosi is remarkable and depressing. By any standard I can think of she's been the most effective legislative leader in decades, instrumental in defending Social Security and expanding health care 1/
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Lots of things to say about Elizabeth Warren, but top of my list is the Consumer Financial Protection Bureau -- a truly original policy idea that was incredibly successful until Trump sabotaged it. She's someone who both has deep ideas and gets stuff done. Kind of important?
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What I really don't understand here is Susan Collins. She came out of health care a hero. Now she is, rightly, seen as a fool, a tool, or both. And she can never get it back. What could possibly justify that choice?
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We are, as pointed out many times, lowest-taxed major advanced nation. Repetition of this lie shows contempt for intelligence of public
Will be going to North Dakota today to discuss tax reform and tax cuts. We are the highest taxed nation in the world - that will change.
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Surreal times. If we had two patriotic parties in this country, impeachment proceedings would begin tomorrow.
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A chicken and egg question: does working for Trump destroy your integrity? Or do only people without integrity work for Trump?
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Bernie's big problem isn't that he's a progressive; it's that he's a progressive with an attitude: calling himself a socialist when he isn't, denouncing anyone who raises questions as a corporate tool. This thrills his followers, but scares off key constituencies 1/
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Future historians — if there are any future historians, that is, if civilization doesn't collapse — will be astonished that we let the planet burn for the sake of an industry that employs less than 3 percent of workers even in West Virginia
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So Rs want Biden to drastically scale back economic relief in the name of bipartisanship. Their offer is insultingly inadequate, and their claims that using reconciliation would "poison the well" are rich given how they rammed through the 2017 tax cut. But there's more 1/
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My lesson from years of political punditry is to never give up -- despite how terrible things may look, redemption remains possible. Still, let's reflect for a moment on what we've now learned: the GOP is entirely, 100% corrupt 1/
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This sort of confirms Warren's whole worldview, doesn't? Big Finance, given the choice between treason and a wealth tax, chooses treason
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This is a good discussion of AOC's call for a top tax rate of 70-80%. Tl; dr: she's actually saying what top public finance economists have been saying for some time. Not at all outlandish. 1/
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Remember, when stocks go up, it's proof of Trump's genius, but when they go down, it's someone else's fault. Probably a conspiracy by the deep state's allies, the deep private sector.
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I keep imagining what it must be like being an American who puts his or her life on the line in the nation's service -- military, CIA, etc. -- knowing that the Commander-in-chief is a criminal and almost surely a foreign collaborator
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If Trump can call Robart a "so-called" judge, can we call him -- with infinitely better justification -- a "so-called" president?
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It's easy to get acclimatized to our situation, but step back and look at what's happening both on taxes and on the Trump coverup: one of our two major political parties, currently running the government, is suffering an intellectual and moral implosion. It's terrifying
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The speed with which Russia has been cut off from the world economy has been as stunning as the slowness with which Russian forces have advanced in Ukraine. But can Putin offset the de facto blockade by dealing with China? That would be harder than many imagine 1/
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I guess everything really is upside down in Australia: a conservative lost an election — and conceded
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Another thought on Arizona's numbers: AZ, with 7 million people, is reporting as many new cases per day as the European Union, with 446 million.
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Admission: I chickened out on watching the hearing, went for a run instead. Multiple women in the park walking their dogs and watching hearing on their phones. I think this is a bigger deal than the GOP ever imagined.
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Why do we have a shortage of truck drivers and warehouse workers? It's a deep mystery
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To prepare for the next 7 news cycles, remember three principles:
1. There are no limits
2. There is no bottom
3. These people lie about everything
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Multiple reasons Dems are having a hard time right now. But they'd surely be doing better if Joe Manchin hadn't spent months futzing around and denying them the ability to claim that things were getting done.
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What a moment. Don't let anyone minimize it by saying that progressives didn't get everything they wanted. Democrats — and it was only Democrats — have given us a real chance at avoiding an existential climate crisis.
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As far as I can tell the Mexican standoff has ended, for now, pretty much along the lines of NAFTA/USMCA: Trump huffed and puffed, US business managed to convey the message that a trade war would be a disaster, and he basically caved while pretending that he won
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Took me a second to get this 1/
BREAKING: Panic in White House as scientists confirm loss of taste could be symptom of COVID-19
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Where we are now: at this point, it will be almost impossible for Trump to win reelection legitimately. It's quite possible, however, that he will try to steal the election. And if you don't think that can happen, you're not paying attention 1/
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Don't bothsides this pandemic. America's epic, lethal fail was driven by the fecklessness of an anti-science party that didn't want to face reality
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When I was young and foolish, I believed that there were lots of bad ideas out there, but not that many truly horrible people. But it turns out that these horrible people not only exist, they run (much of) the world
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Silly question, I know, but have any of the right-wing pundits who ridiculed concerns about Covid-19 apologized, let alone done any soul-searching about why they were so wrong? Even one?
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I've been trying to put my finger on what's so disturbing about the spectacle of Cotton and Perdue lying so obviously and blatantly to protect Trump. And I think I have it: here you have U.S. senators -- US senators! -- acting like apparatchiks in a totalitarian regime 1/
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When you lie about everything, all the time, it has consequences. Maybe Iran did attack those tankers. But nobody will believe it just because the Trump administration says so.
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Although we're all making fun of DeSantis's humiliation, we shouldn't forget that his anti-vax crusade — in service of his doomed run — probably killed thousands of people
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Just to say the obvious: Sanders has a big choice now. He has no chance of winning the Democratic nomination. But if he withdraws gracefully, he can play a large role in shaping the party's agenda; he does have a significant core of support, and Dems need those voters 1/
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So is an attempt to assassinate the Speaker of the House, which severely injured her husband, and seems to have reflected right-wing extremism, going to be a one-day story? Really?
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Worth remembering that Kavanaugh is a hard-line, radical right-winger who would surely bring down Roe v Wade, hammer workers' rights, and undermine government regulation. We were supposed to ignore all this and focus on how fine a man he is.
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So my blue check has reappeared. I had nothing to do with that, and am definitely not paying
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About Warren: deeply sad. She was the candidate of ideas, the best hope we had of getting a strongly progressive agenda actually enacted. Plus enormous energy and personal charm. What happened? Well, sexism was a big deal, probably the most important thing 1/
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Sorry, but I don’t take supposed deficit hawks seriously unless they’re willing to give up something they want. If they’re fine with tax cuts but balk at helping the unemployed, they’re frauds
"The enormous increases in the federal budget deficit caused by the coronavirus response have stirred calls for caution about spending too much in another pandemic relief bill," writes
@talmonsmith
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I try not to look back, but every once in a while: we could have had a smart, sane president, but media preferred to hype email non-scandal
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The tax bill, as written, will eventually give 83 percent of its benefits to the top 1 percent. The GOP defense of the bill is that this is so awful future Congresses will reverse it. I repeat: that's their DEFENSE of the bill
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Oh, God. Are we still pretending that the Tea Party was about small government and concern about budget deficits? It was always, from the beginning, about racial anger; opposition to big government only to the extent that it helps Those People 1/
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There are now good reasons to believe that the coronavirus will hit America especially hard, even though it originated in China. Why? Because it plays into multiple pre-existing weaknesses 1/
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Another metric: Trump would have to do one Carrier-sized deal a week for 30 years to save as many jobs as Obama's auto bailout
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If this were a movie, we'd say that the screenwriting was too heavy-handed. I mean, having the tough-talking president flee into an underground bunker in the face of unarmed demonstrators, then emerge to tell governors "most of you are weak"? Cheesy.
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Three things:
1. We need to see the report, not just Trump appointees' summary
2. Anyone who thought Mueller was a silver bullet that would bring Trump down was living in a fantasy world
3. The administration's corruption on multiple fronts is as obvious as ever
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Claiming that the Clinton email "scandal" was a major crime is just a step up from Pizzagate. Nobody should ever take Graham seriously again (except as a threat to the republic)
Lindsey Graham is on
@foxandfriends
, where he says that if any other American did what Clinton did with her emails “they’d be in jail” and that Russia did interfere in the election...using the Steele dossier. Topic then moved on to John McCain.
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Conversation overheard at supermarket meat counter:
Customer:"Meat just keeps getting more expensive"
Butcher: "Actually, prices have been coming down"
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War is peace.
Freedom is slavery.
Ignorance is strength.
Truth isn’t truth.
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It looks as if Trump won't pass any major laws. He'll have to settle for destroying America's ethical standards and moral authority.
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FWIW, I don't think Trump will resign. I think he'll do anything -- up to and including starting a war to change the subject -- rather than let justice catch up with him. I hope I'm wrong.
The other shoe has dropped — the smoking gun equivalent to Nixon’s tapes. Alan Weisselberg knows everything. Trump will resign as I always assumed. Only matter of time now.
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The basic story of the GOP is that it was taken over by plutocrats, who invited racists and conspiracy theorists into the tent because they thought it would help them cut taxes. Then they woke up one day and realized that the crazies were in charge 1/
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Sorry, Mr. Donohue, this IS who you are. People like you made a deal with racists so you could get deregulation and tax cuts. Every step you took was leading to this moment.
new from US Chamber President Tom Donohue: “Thousands of children are being forcibly removed from their parents by our government. There is no other way to say it, this is not who we are and it must end now”
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If there's one thing that is absolutely clear after the past 2 years on health care, it is that Rs have no alternative to the ACA, and never will. Their plan is for people to get sick, go bankrupt, and die.
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To be honest, a Sanders administration would probably leave center-left policy wonks like me out in the cold, at least initially. But this is no time for self-indulgence and ego trips. Freedom is on the line 5/
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Serious question: everything suggests that Putin has something on Trump which is bad enough that Trump is too scared to voice even a hint of criticism. But what could he possibly have that is worse than what we already know?
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Funny how these things keep happening — scheduling a rally in Tulsa on Juneteenth, using a Nazi symbol in campaign ads. Why, it's almost as if the Trump campaign is full of white supremacists and fascists, who can't help themselves
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Personal good news: got my 2nd vaccine. Time to party in a mosh pit! Actually, gonna keep double-masking until we all have the all clear. But it is a huge relief.
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The man who predicted that the Trump tax cut would pay for itself says Greta Thunberg needs lessons in economics 1/
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The morning after. Even though we knew it was coming, still shocking that the party of Dwight Eisenhower now believes that it's OK to use violence to reverse an election defeat. Weep for America.
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By now many people have noticed that Jason “try that in a small town” Aldean grew up in a city with 150k people. What you may not know: last year Macon had 70 homicides. NYC, with 8.4 million people, had 438.
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There's a new axis of evil: Russia, Saudi Arabia -- and the United States
Unreal. The US just joined Russia & Saudi Arabia in refusing to endorse findings of big international report warning of long-term climate catastrophe:
This again shows that Trump's *worldview* as basis for big decisions is producing disastrous outcomes:
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So, if your picture of the economy came entirely from headlines and cable chyrons — which is probably true for many — would you know that the economy has grown 6.7 percent under Biden so far and inflation for the past 6 months was 1.9 percent? 1/
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Do you think Trump will condemn the plot to kidnap Gretchen Whitmer? My guess is that he won't.
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The war on inflation is over. We won, at very little cost
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Ah yes, remember that stirring line in The Communist Manifesto: "Workers of the world, unite to spend 1.2% of GDP on popular programs over the next decade!"
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