Democrats have two inflation problems on their hands: a real one, and an imaginary one.
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=1394849
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=1394849
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This was always going to be the excuse.
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Waiting for Manchin to run out of reasons to oppose BBB. He’s well on his way to “I can’t vote for BBB, I have to wash my hair tonight.” Really hard not to conclude that he’s just not gonna vote for it. I hope I’m wrong about that.
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Democrats should raise some campaign money by selling “Fuck All the Way Off, Manchin” hats.
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Apparently there is a Phillips curve: the more people employed the higher prices rise. So if you want to bring inflation down fire a lot of people…
Both the NYT and WaPo are reporting that consumers are actually blasé about rising prices, as they now have much more money to spend on things: sales are up 1.7% in October.
This is phony hysterical hype.
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The bad blood between progressive and moderate Democrats if moderates block the second infrastructure bill will be very serious…progressives will no longer trust the moderates, and will say that very clearly. The two sides have to figure out how to get along though, because the Democratic party is composed of many factions and all have to be included in policy decisions; moderates will be violating this if they take their bill and don’t pass the more progressive one. Both sides also need to work this out to avoid all out war in the 2022 primary that gives Republicans even more chance at taking over Congress and state governments, that would be even worse for the nation.
The current impasse is on the moderates, who have been jerking everyone’s chain instead of being forthright and getting the job done. They really need to stop playing games, it’s endangering the party and the nation.
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Paul Krugman has two recent columns about this very subject. The first starts with:
“Back in July the White House’s Council of Economic Advisers posted a thoughtful article to its blog titled, “Historical Parallels to Today’s Inflationary Episode.” The article looked at six surges in inflation since World War II and argued persuasively that current events don’t look anything like the 1970s. Instead, the closest parallel to 2021’s inflation is the first of these surges, the price spike from 1946 to 1948.
Wednesday’s consumer price report was ugly; inflation is running considerably hotter than many people, myself included, expected. But nothing about it contradicted C.E.A.’s analysis — on the contrary, the similarity to early postwar inflation looks stronger than ever. What we’re experiencing now is a lot more like 1947 than like 1979.”
And ends with:
Another lesson, which is extremely relevant right now (hello, Senator Manchin), is that an inflation spurt is no reason to cancel long-term investment plans. The inflation surge of the 1940s was followed by an epic period of public investment in America’s future, which included the construction of the Interstate Highway System. That investment didn’t reignite inflation — if anything, by improving America’s logistics, it probably helped keep inflation down. The same can be said of the Biden administration’s spending proposals, which would do little to boost short-term demand and would help long-term supply.
The whole article is available at:
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That has assuaged the worry of many Democrats not named Manchin.
NICE! 
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The Five Stages of Manchin Grief:
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“BBB doesn’t help Americans enough!”
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“BBB helps Americans too much!”
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“BBB will cause inflation!”
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“BBB will cause deflation!”
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“I need to wallpaper my houseboat!”
(h/t Kübler-Ross)
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The main problem is that Manchin was never really in favor of this bill and was looking for any excuse possible to oppose it. This is his excuse. I’m not optimistic it will pass now. Facts won’t matter to Manchin because he never wanted to support this reconciliation bill in the first place.
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Shorter Manchin - This bill was never supposed to get this far.
I don’t feel for you guy. I just don’t.
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It’s not so much that Manchin points out that there’s a turd in the punchbowl, it’s that he neglects to inform that he, himself, squatted over it prior to the party.
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Krugman’s article today, again dealing with inflation, is about the politics and not so much the policy.
"In principle, voters should judge politicians by their actions; they should support politicians who pursue policies that help them, oppose politicians whose policies would hurt them. To do this, however, voters should have a reasonably good idea of what policy is doing.
Unfortunately, when it comes to economic policy — which should be the easiest kind of policy to evaluate, since its effects are visible in everyone’s daily life — there are few reasons to be optimistic about the relationship between policy and public opinion.
But other data show a huge divergence between what people say about the state of the economy, which is quite negative on average, and what they say about their own personal finances, which is fairly positive."
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Look at the data, not DC Press opinion.
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So, definitely page A1 above the fold, then?
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“You there! Kindly fuck off. When you are done fucking off,fuck off some more. When you have fucked off enough that you are back here, fuck off again…”
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Big Coal must really hate America…
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Folk wisdom, it’s what’s for morning coffee.
I’m reminded constantly of the Monty Python and the Holy Grail Witch scene.
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That was directed at Manchin, and buttressing your statement.
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Good boy Joe. McConnell loving on his lap dog.
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