Best thing I read today -

Best thing I read today


Paul Krugman, channeling Joe Heath:

“The basic picture of the federal government you should have in mind is that it’s essentially a huge insurance company with an army”

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Best thing I read today

  1. A huge BANKRUPT insurance company with an army.

  2. I became krugman fan after reading about him in The New Yorker. His oped in the NY Times about proposed regulation of "shadow" banks like Lehman brothers etc. is, um right on the money. If the same old gang is in charge we can expect another fiasco.

  3. Right, because approaching the federal government with claims and asking for money whenever you get sick, kill something, or crash into something else is a great way to run a tight, fiscally federalist state.

    • <sarcasm>
      You're right Lynn. this matter should be properly left to lawyers, bankers, and insurance executives operating under a free enterprise model. Societies, by and large, time and time again, have utterly failed to make things better for the greater good! Screw the intellectuals and philsopher-kings. The true measure of worth is the house you live in and the car you drive.

      • Good use of the sarcasm tags!

      • I'm not making that argument. I just don't think it's wise to take such a narrow view of fiscal federalism, particularly in the face of the regionalism that our nation has to deal with on a day-to-day and policy-to-policy basis.

    • Well.. the first two are handled under our government already. Health and Justice system. However, I think you're taking the quote too literally. An insurance company where what it insures is society's peace, stability, and sustainability.

  4. Krugman's right. The feds could fire everyone that works for them and still have just less than half the deficit to deal with.

  5. So then we're all agreed they need to cut the military spending?