Monday, December 3, 2012

Krugman: The big budget mumble | The Salt Lake Tribune

Krugman: The big budget mumble | The Salt Lake Tribune:

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snip

 Republicans have howled in outrage. Sen. Orrin Hatch, delivering the GOP reply to the president’s weekly address, denounced the offer as a case of "bait and switch," bearing no relationship to what Obama ran on in the election. In fact, however, the offer is more or less the same as Obama’s original 2013 budget proposal and also closely tracks his campaign literature.
So what are Republicans offering as an alternative? They say they want to rely mainly on spending cuts instead. Which spending cuts? Ah, that’s a mystery. In fact, until late last week, as far as I can tell, no leading Republican had been willing to say anything specific at all about how spending should be cut.
The veil lifted a bit when Sen. Mitch McConnell, in an interview with The Wall Street Journal, finally mentioned a few things — raising the Medicare eligibility age, increasing Medicare premiums for high-income beneficiaries and changing the inflation adjustment for Social Security. But it’s not clear whether these represent an official negotiating position — and in any case, the arithmetic just doesn’t work.
Start with raising the Medicare age. 

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