Economics Corner with Paul Krugman and Winston’s Mom

by | Oct 23, 2023 | Economy, Markets, National Security | 94 comments

Its too bad he didn’t run with his “we beat inflation” bit outside the XXX app.  I might have some real fun.

Special thanks to the incels at Archive.org!

So the federal government wasn’t shut down over the weekend, although we may have to go through this whole drama again in six weeks. Kevin McCarthy, the speaker of the House, ended up doing the obvious: bringing a funding bill to the floor that could pass only with Democratic votes, because the hard-liners in his own party wouldn’t agree to anything feasible. And the bill didn’t include any of the spending cuts Republicans have been demanding, except for one big, bad thing: a cutoff of aid to Ukraine.

Sounds like it included exactly one spending cut.

Democrats appear to have agreed to this bill because they expect to get a separate vote on Ukraine aid; President Biden has indicated that he believes he has a deal with McCarthy to that effect. I hope they’re right.

But why did things turn out this way? Michael Strain of the right-leaning (but mostly not MAGA) American Enterprise Institute has called the fiscal confrontation the “‘Seinfeld’ shutdown” — that is, a shutdown about nothing. That’s a good line, but if we’re going to do popular culture references, I think it might be better to call it the “Network” shutdown, as in people shouting “I’m mad as hell, and I’m not going to take it anymore!”

Nothing short of a coup can satisfy this inchoate rage. But McCarthy evidently thought he could reduce the backlash against his deal with Democrats by betraying, or at least pretending to betray, Ukraine. That’s clearly something MAGA wants. But why?

Can I call them or what?

Fun fact:  this went live on 2 Oct, exactly one day before a coup to satisfy Team Cuck’s inchoate rage occurred.  Which is sort of funny given McCarthy thought he had friends on Team Cunt that would back him:but it turns out if your gonna trust Team Cunt don’t be surprised if you suddenly find yourslf out of lube.

Whatever anti-Ukraine voices like Elon Musk may pretend, it’s not about the money.  Right-wing hard-liners, both in Congress and outside, claim to be upset about the amount we’re spending supporting Ukraine. But if they really cared about the financial burden of aid, they’d make the minimal effort required to get the numbers right. No, aid to Ukraine isn’t undermining the future of Social Security or making it impossible to secure our border or consuming 40 percent of America’s G.D.P.

Correct.  The existence of Social Security is what undermines the future of Social Security.

How much are we actually spending supporting Ukraine? In the 18 months after the Russian invasion, U.S. aid totaled $77 billion. That may sound like a lot. It is a lot compared with the tiny sums we usually allocate to foreign aid. But total federal outlays are currently running at more than $6 trillion a year, or more than $9 trillion every 18 months, so Ukraine aid accounts for less than 1 percent of federal spending (and less than 0.3 percent of G.D.P.). The military portion of that spending is equal to less than 5 percent of America’s defense budget.

Incidentally, the United States is by no means bearing the burden of aiding Ukraine alone. In the past, Donald Trump and others have complained that European nations aren’t spending enough on their own defense. But when it comes to Ukraine, European countries and institutions collectively have made substantially larger aid commitments than we have. Notably, most of Europe, including France, Germany and Britain, has promised aid that is higher as a percentage of G.D.P. than the U.S. commitment.

Because they are more likely to get stuck with the inevitable Ukrainian refugees, and a presumably belligerent Putin sniffing their panties should they actually win.  Not to mention be stuck with importing gas from the US since we (probably) blew up the Russian pipeline.  Proximity is a bitch.

But back to the costs of aiding Ukraine: Given how small a budget item that aid is, claims that aid to Ukraine somehow makes it impossible to do other necessary things, such as securing the border, are nonsense. MAGA types aren’t known for getting their numbers right or, for that matter, caring whether they get their numbers right, but I doubt that even they really believe that the monetary costs of helping Ukraine are insupportable.

And the benefits of aiding a beleaguered democracy are huge. Remember, before the war, Russia was widely viewed as a major military power, which a majority of Americans saw as a critical threat (and whose nonwoke military some Republicans exalted). That power has now been humbled.

Ukraine’s unexpectedly successful resistance to Russian aggression has also put other autocratic regimes that might have been tempted to engage in wars of conquest on notice that democracies aren’t that easy to overrun. Not to put too fine a point on it, but Russia’s failures in Ukraine have surely reduced the chances that China will invade Taiwan.

Finally, what even Republicans used to call the free world has clearly been strengthened. NATO has risen to the occasion, confounding the cynics, and is adding members. Western weapons have proved their effectiveness.

Those are big payoffs for outlays that are a small fraction of what we spent in Iraq and Afghanistan, and let’s not forget that Ukrainians are doing the fighting and dying. Why, then, do MAGA politicians want to cut Ukraine off?

Because it’s not a fight anyone asked for, except for a few Team Cunt politicians that somehow benefited from the 2014 Euromaidan Protests that installed a pro-EU government? Along with a few others benefitting from keeping certain things under wraps?  That this entire exercise in human misery is really just a diversion away from something seriously more fucked up than war?

Nah.  Team Cuck is just dumb, amirite?

The answer is, unfortunately, obvious. Whatever Republican hard-liners may say, they want Putin to win. They view the Putin regime’s cruelty and repression as admirable features that America should emulate. They support a wannabe dictator at home and are sympathetic to actual dictators abroad.

So pay no attention to all those complaints about how much we’re spending in Ukraine. They aren’t justified by the actual cost of aid, and the people claiming to be worried about the cost don’t really care about the money. What they are, basically, is enemies of democracy, both abroad and at home.

Its not about the money, shithead.  Its about sending a message.

About The Author

Winston's Mom

Winston's Mom

Biological mother of Winston.

94 Comments

  1. DEG

    But back to the costs of aiding Ukraine: Given how small a budget item that aid is, claims that aid to Ukraine somehow makes it impossible to do other necessary things, such as securing the border, are nonsense. MAGA types aren’t known for getting their numbers right or, for that matter, caring whether they get their numbers right, but I doubt that even they really believe that the monetary costs of helping Ukraine are insupportable.

    That reminds me of the “Funding NPR is inconsequential and won’t plug the budget hole, so therefore we can’t cut it” argument folks on the Left made when Republicans chattered about cutting NPR funding. Or was it NEA funding? I can’t remember. I remember thinking, “If you can’t cut something inconsequential, you can’t cut anything” and of course, nothing was cut.

    • Rat on a train

      If you can’t fix the deficit with a single line item, why bother?

    • The Last American Hero

      If you are morbidly obese, cutting out the third candy bar in the afternoon won’t make you fit. But if can’t cut the third candy bar, you will always be morbidly obese.

  2. Lackadaisical

    ‘only’ 0.3% of GDP?

    Yeah, that’s like everyone spending a whole day working for Ukraine. Fuck that.

    “Notably, most of Europe, including France, Germany and Britain, has promised aid that is higher as a percentage of G.D.P. than the U.S. commitment.”

    Promised, but presumably hasn’t delivered. This guy is a master cherry picker.

    • rhywun

      And notably, most of Europe is tiring of throwing their money into that abattoir too.

    • Pat

      Promised, but presumably hasn’t delivered.

      Even if they had, I think we all got the “If your friends jumped off a bridge…” speech as kids, right?

      Also, there’s always that possibility that European countries might have more at stake in the outcome of a European conflict than another country on another continent separated by a rather large ocean, and therefore it might just be fairly reasonable for European countries to be willing to spend more of their national treasure there.

    • thrakkorzog

      Meh, the euro promises of future funding are less encouraging than some Greek dude with a 50 gallon barrel of lube promising “just the tip.” If you believe either of those things we both know how the story is going to end.

      • Chafed

        I read the reviews of lube barrel on Amazon. They were hilarious.

  3. juris imprudent

    Whatever Republican hard-liners may say, they want Putin to win.

    Put down the crackpipe Kruggie.

    • prolefeed

      nothing like being able to read minds instead of observing revealed preferences like an economist would

    • creech

      How many years has Kruggie been wearing a tinfoil hat?

      • Dr. Fronkensteen

        Since the Bush administration

    • Pat

      I have to confess, seeing the boomer left coalition of SDS commies, Vietnam war protestors, and academic Stalin apologists move to the right of McCarthy and the John Birch Society on Russia in the span of a few years amuses me.

      • rhywun

        The USSR didn’t throw a presidential election to Orange.

    • thrakkorzog

      Have any of the people accusing Republicans of being pro-Putin for wanting to how our money is being spent ever said something against Mao or Winnie the dictator?

  4. R.J.

    Where is everyone?

    • rhywun

      *hic*

      What?

    • UnCivilServant

      I don’t know, I’m updating software.

  5. pistoffnick

    This is a very good analysis, Swiss ah, I mean, Winston’s Mom.

    • Common Tater

      Swiss is Winston’s mom?

      • rhywun

        I have a suspicion that it’s someone else.

      • Not Adahn

        I suspect that while many of the accounts were started by, and often operated by, a certain Helveticaphile Glib, that the passwords for them are taped to several monitors.

  6. hayeksplosives

    by betraying, or at least pretending to betray, Ukraine.

    “Betraying” Ukraine?

    Do we have a treaty with Ukraine of which I’m unaware?

    • rhywun

      As if we would adhere to one.

    • thrakkorzog

      FF FF o xxxsszs ls dodoo ft oziksllomd dskslxloodfsfd DDS ksdclo didn’t l DD DD ssdd s see ldod knew lsdo and lssj do l see osddol ffoto get offosklds

      • UnCivilServant

        NPC_Run(defragment(true));
        NPC_Run(do_firmware_upgrade(stable));
        NPC_Run(restart);

      • rhywun

        “Oh, stewardess, I speak Cthulhu.”

      • thrakkorzog

        Sorry about that one. First time ever pocket commented.

      • prolefeed

        And yet, still less annoying than Krugman’s column.

      • thrakkorzog

        And still more of an an economic impact than fax machines.

    • UnCivilServant

      “I won’t be famous for curing it, nor will people shower me with money”

    • Gender Traitor

      Inevitable because he’s gonna make sure it happens, by golly?

      • rhywun

        b i n g o

    • whiz

      I seem to remember that Fauci has for a long time (decades) thought that society needs a restructuring, with much less mobility in order to slow down any potential viruses. He’s been obsessed with that his whole professional life (if not even longer).

      • Gender Traitor

        “Physician,” immobilize thyself.

    • Pat

      Arsonist has nightmares about “next inevitable fire”

      • Chafed

        So much this.

    • Chafed

      Fuck.That.Guy.

    • The Last American Hero

      In a just world he’d have nightmares about walking the mile.

  7. Chafed

    I did a testimonial for a vendor a couple of weeks ago. Today I received a bottle of Macallan 12 double cask in the mail today. Sometimes good things happen to good people.

    • Brochettaward

      And a lot of times, good things happen to non-Firsting people. The Great Firster allows this, so I will abide.

  8. Brochettaward

    So pay no attention to all those complaints about how much we’re spending in Ukraine. They aren’t justified by the actual cost of aid, and the people claiming to be worried about the cost don’t really care about the money. What they are, basically, is enemies of democracy, both abroad and at home.

    Seeing this level of open propaganda here in America is just plain creepy. It’s not even funny because Krugman, while being an idiot, isn’t exercising his stupidity here. He’s a man who will literally say anything the Democratic party needs him to say no matter how ridiculous.

    • slumbrew

      You are depressingly correct.

    • Suthenboy

      “What they are, basically, is enemies of democracy, both abroad and at home.”
      What we have is top party figures suggesting extreme solutions to imaginary problems while their mouthpieces vilify and dehumanize the opposition.
      Opposition does not consist of only those who oppose openly and vocally but includes anyone opposing in spirit or thought or culture. We have seen others choose this road before. It only leads to one place and that is nowhere good.

      Night Will Fall.

    • slumbrew

      I agree – I’ve already seen far too many fools dismissing Hamas atrocities as Israeli “propaganda”.

      From a commenter on The Fifth Column, re: people arguing that Hamas just killed babies, they didn’t actually decapitate them:

      … to those who are still somehow debating how many babies were killed and in what manner: if there is a line between barbarism and civility, it is not an inch of a baby’s neck.

      • Suthenboy

        What is going on today feels very much like the lead-up to WWII to me.

      • thrakkorzog

        The thing bugged me is that everybody accepts that Hamas killed babies and beheaded Jews.

        The argument is that they didn’t decapitate 40 babies, that’s just IDF propaganda.

        Like OK they only killed 39 babies but they didn’t decapitate them.

        They’re still good with killing babies. That seems like the important bit there.

      • Stinky Wizzleteats

        That’s not what people are arguing (there are surely exceptions but fuck them), they’re saying that sensationalizing it is unnecessary and is tailor made to draw the US into this war and to provide a justification for the brutalization of the Palestinians. The truth may be the first casualty in this war but it’s still important.

      • dbleagle

        I added it to my listen list. Mahalo.

      • hayeksplosives

        Me too. Thanks, slumbrew..

  9. hayeksplosives

    The soft bigotry of low expectations.

    Woke Oregon school chiefs suspend need for high schoolers to prove math, reading and writing skills to graduate for FIVE MORE YEARS – to bolster minority students who ‘don’t test well’

    https://www.dailymail.co.uk/news/article-12664399/Woke-Oregon-school-chiefs-suspend-need-high-schoolers-prove-math-reading-writing-skills-graduate-FIVE-YEARS-bolster-minority-students-dont-test-well.html

    I know that lots of people make fun of the “soft bigotry of low expectations” phrase, but I think it’s very accurate and descriptive. These low standards are doing NO ONE any favors.

    • Suthenboy

      Good morning ‘plosives.
      Yes, jokes aside it is a very real thing, very much bigotry and the practical outcome of applying it is tragic.
      Early socialist complained about slavery. Their complaint being that only blacks were enslaved. They advocated that everyone regardless of race should be enslaved (see: contemporary WEF – “You will own nothing and be happy”).
      That is all this is – an attempt to deny education to minorities and whites equally. Equal ignorance. This must be the equity they are always squawking about.

      I sometimes consider the enormous sum of human potential squandered by power mongers, thuggery, criminality and those who cling desperately to magical thinking. Progress demands that we drag regressives clawing, kicking and screaming along with us.
      I know that there are still John Adams’ in the world today but sometimes their voices are nearly lost in the din of howling savagery we seem to always be drowning in.
      “I must study politics and war, that our sons may have liberty to study mathematics and philosophy.” – John Adams

      • Lackadaisical

        The thing I like most about his quote is that he places politics alongside war and opposite to liberty and culture. It’s deep.

      • Suthenboy

        “”Government is not reason, it is not eloquence, it is force; like fire, a troublesome servant and a fearful master. Never for a moment should it be left to irresponsible action.” – probably George Washington

        We do not give the Founders enough credit. They were very familiar with all of the issues of today in contrast to the short shrift they are given by the shitbirds that despise their ideas. We are not that far separated. To give some perspective, my Grandfather, a man I knew well, would regularly visit a man when he was a child whom had worked for Thomas Jefferson. That is only two degrees of separation from Jefferson and myself.
        Old white slaveowners that wrote something 100 years ago that no one today can understand. Uh huh. Like everything the regressives say it is undiluted horseshit.

      • Rat on a train

        War is the continuation of policy with other means.

  10. Beau Knott

    Good morning all!
    Two more from Tony Banks, A Curious Feeling.

    Lucky Me.

    For A While.

    Share and enjoy!

    • Gender Traitor

      Good morning, Beau, Sean, Stinky, Roat, Suthen, and Lack!

      • Gender Traitor

        Good morning, U! How are you today?

      • UnCivilServant

        Meh.

        Got work things I’m not looking forward to.

      • Gender Traitor

        Yeah, me too. Yesterday, an employee who’d been off on long-term disability (and who’d worked well past the usual retirement age) passed away. I’m worried because he never turned in a beneficiary form for his 401(k), so I hope there’s no trouble if we assume his wife should get the money.

      • Ghostpatzer

        Ouch.

        and who’d worked well past the usual retirement age) passed

        Sounds too familiar…

      • Ghostpatzer

        Got work things I’m not looking forward to.

        Big rollout today. I am a spectator, since I am maintaining the legacy system and did not participate on the development of the new one. Fingers crossed.

      • UnCivilServant

        “Tell me I can decommission the old stuff.”

      • Ghostpatzer

        Degloving will take place in 4-6 weeks. I have no idea what i will be doing afterwards.

    • Stinky Wizzleteats

      Interesting, shows how laughably bad decisions can take on a momentum of their on for various reasons. Who snuffs themself by stabbing themself in the back of the head a dozen times? Seems like it’d take a judge or a supervisor at the coroner’s office about five minutes to tell them to go back to the drawing board on this one but it’s been over ten years.

      • Suthenboy

        That is the rub about murder. Ten years, one hundred and ten years…murder never goes away.

      • R C Dean

        No, but evidence does.

  11. Tres Cool

    suh’ fam
    whats goody

    • Gender Traitor

      Good morning, homey! Where are you today?

      • Tres Cool

        SE Georgia
        Sampling for Ethylene Oxide (ETO). Its used as a sterilizing agent, most commonly for one-use surgical tools.
        Its (potentially) nasty stuff.

  12. Ghostpatzer

    Mornin’, reprobates!

    • Gender Traitor

      Good morning, ‘patzie! How’s it going?

      • Ghostpatzer

        Mornin’, GT. Another frosty morning, but we will supposedly experience Indigenous Summer in short order. Fall colors are good, I need to take some pix.

      • rhywun

        Yeah, seventies incoming. Been a chilly week.

      • Ghostpatzer

        Mornin’ Rhy. Looks like you got out of Beirut Bay Ridge just in time.

      • rhywun

        That’s what I said!

        It’s always been a low simmer there but I had a feeling things would heat up. I do think the troublemakers are a minority but when joined by the idiot college Marxist professional agitator set to whip them up… a bad brew.

      • Fourscore

        Leaves are beautiful and falling fast.We were promised some snow flakes next week but looks like the weatherman backed down and decided we’re not ready for that just yet. Won’t be long though.

        As a kid in school the teachers would always let us run to the windows at the first sign of snow, then 10 minutes later it was back to the books. We didn’t get a reprieve from the mastery of life’s skills.

      • Ghostpatzer

        We didn’t get a reprieve from the mastery of life’s skills.

        We did, Snow days were a thing in NYC back in the day. No more, K-12 schools are now glorified day care, both parents working to make ends meet and nobody’s home. There has certainly been a great deal of progress from the bad old days of single earner families.

      • Ownbestenemy

        Growing up in Cali we got maybe some fall colors if neighborhoods had the right trees. My mom always would tell me we kids missed out from changing seasons.

        Now here in NKY and I can see why she talked of the beauty of fall.

  13. Fourscore

    Good morning all!

    One cup down and the day is already brighter. My schedule is pretty lean these days, I’m having to look for things to do. Not work, mind you, but get other ‘important’ things tied down before winter gets here.

    • juris imprudent

      We had our first frost here last night. So yesterday afternoon collected more tomatoes off the vines – silly plants haven’t given up yet.

  14. Sean

    It was in the 30s this morning and this is my first vehicle with a heated steering wheel.
    I’m a fan. 🙂

  15. cyto

    So….

    We have a proxy war with Russia.

    We have a proxy war with Iran… moving hard towards an actual war with Iran.

    We have a crisis of violent crime. We have cities that are shutting down because of a woke mind virus.

    We have a CIA/FBI run censorship regime covering just about everything except Twitter and Rumble.

    We have generational inflation.

    We have propaganda that is inescapable pervasive.

    We have the very real threat of rigged elections – particularly openly in the democrat primaries…

    And yet…. the libertarian magazine of record is covering:

    “Trump wants to kill drug offenders” (spoilers, not what he said at all)

    “What Joe Biden got right (and wrong) in the middle east”

    We have government grocery stores don’t work and airline unions and regulation.

    Sydney Powell making a plea deal spells doom for Trump.

    Good lord….

    • cyto

      Even CNN leads with Gaza before having multiple sections of Trump hate.

      • cyto

        BBC has Gaza number 1 on their world page…. but Trump hate is number 2.

      • cyto

        Jezebel doesn’t have Trump anywhere near the front. They have a couple of Speaker of the House pieces… and a ton of weird stuff like Cher kidnapping her son.

        But still more relevant than Reason.