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Friday, November 02, 2012

Paul Krugman: The Blackmail Caucus

Don't give in to "protection-racket politics":

The Blackmail Caucus, by Paul Krugman, Commentary, NY Times: If President Obama is re-elected, health care coverage will expand dramatically, taxes on the wealthy will go up and Wall Street will face tougher regulation. If Mitt Romney wins instead, health coverage will shrink substantially, taxes on the wealthy will fall to levels not seen in 80 years and financial regulation will be rolled back.
Given the starkness of this difference, you might have expected to see people from both sides of the political divide urging voters to cast their ballots based on the issues. Lately, however, I’ve seen a growing number of Romney supporters making a quite different argument. Vote for Mr. Romney, they say, because if he loses, Republicans will destroy the economy.
O.K., they don’t quite put it that way. The argument is phrased in terms of “partisan gridlock,” as if both parties were equally extreme. But they aren’t. This is, in reality, all about appeasing the hard men of the Republican Party. ...
The starting point for many “vote for Romney or else” statements is the notion that a re-elected President Obama wouldn’t be able to accomplish anything in his second term. What this misses is the fact that he has already accomplished a great deal, in the form of health reform and financial reform — reforms that will go into effect if, and only if, he is re-elected. ...
So we shouldn’t worry about the ability of a re-elected Obama to get things done. On the other hand, it’s reasonable to worry that Republicans will do their best to make America ungovernable during a second Obama term. After all, they have been doing that ever since Mr. Obama took office. ...
Would a Democratic Senate offer equally extreme opposition to a President Romney? No, it wouldn’t. So, yes, there is a case that “partisan gridlock” would be less damaging if Mr. Romney won.
But are we ready to become a country in which “Nice country you got here. Shame if something were to happen to it” becomes a winning political argument? I hope not. By all means, vote for Mr. Romney if you think he offers the better policies. But arguing for Mr. Romney on the grounds that he could get things done veers dangerously close to accepting protection-racket politics, which have no place in American life.

    Posted by on Friday, November 2, 2012 at 12:33 AM in Economics, Politics | Permalink  Comments (20)

          


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