A Different Kind of Mess

So, I refrained from posting during the Debt Ceiling crisis, mostly because I found the whole thing too alarming and discouraging. But in its aftermath I thought I'd share a few links.

First, to Mr. Krugman on just how bad the resultant deal is. Given that just in the last three days we're already hearing talk about the recovery collapsing, the economy falling back into recession, AND the U. S. credit rating being downgraded anyway,* I'd say he's more Cassandra than not.

http://www.nytimes.com/2011/08/01/opinion/the-president-surrenders-on-debt-ceiling.html?_r=2

By contrast, here's a piece by someone who rather smugly chides those who believed Obama might actually attempt to do any of the things those who voted for him elected him to do. It's one of several pieces that have appeared lately that have made me wonder if it isn't best to think of Obama as essentially a moderate Republican: an essentially decent man dedicated to not rocking the boat, whose ideal audience/potential supporter is David Brooks.

http://blogs.middlebury.edu/presidentialpower/2011/07/31/did-obama-cave/

And finally -- and here's why I'm posting at all -- here's the loony take on things: the suggestion that the treasury simply coin two $1,000,000,000,000 platinum coins as a way out of the crisis. I shelve this one with the 'sovereign citizen' loons, but hey, at least it's numismatically interesting:

http://thinkprogress.org/yglesias/2011/07/28/282471/the-platinum-coin-option/

--John R.

*given how disfunctional the government just showed itself to be, and how incapable of taking even the most obvious steps (i.e., raise taxes on the quarter-million people in this country who are millionaires).