Washington Babylon — February 27, 2009, 8:36 am

Budget, High and Low

From Paul Krugman:

The budget will, among other things, come as a huge relief to Democrats who were starting to feel a bit of postpartisan depression. The stimulus bill that Congress passed may have been too weak and too focused on tax cuts. The administration’s refusal to get tough on the banks may be deeply disappointing. But fears that Mr. Obama would sacrifice progressive priorities in his budget plans, and satisfy himself with fiddling around the edges of the tax system, have now been banished.

Best thing about budget: It seeks to make wealthy people pay significantly more taxes, after decades of cuts for those in the highest tax bracket. The New York Times estimates that “the most affluent Americans will see their tax burden rise by $1 trillion over 10 years under Mr. Obama’s budget.” (And when you hear conservatives screaming that tax increases will hit the middle-class and small business owners, consult this item by Matthew Yglesias.)

Worst thing about the budget: It doesn’t begin to challenge the biggest entitlement program of them all, otherwise known as the defense budget (which actually increases by one percent, to $664 billion.) Every rational analyst knows that the defense budget is wildly inflated; the U.S. spends more on its military than the rest of the world combined and more (in real terms) than it has since World War II. And the Pentagon needs more?

Share
Single Page

More from Ken Silverstein:

From the November 2013 issue

Dirty South

The foul legacy of Louisiana oil

Perspective October 23, 2013, 8:00 am

On Brining and Dining

How pro-oil Louisiana politicians have shaped American environmental policy

Postcard October 16, 2013, 8:00 am

The Most Cajun Place on Earth

A trip to one of the properties at issue in Louisiana’s oil-pollution lawsuits 

Get access to 164 years of
Harper’s for only $39.99

United States Canada

CATEGORIES

THE CURRENT ISSUE

February 2015

The War of the World

= Subscribers only.
Sign in here.
Subscribe here.

The Sharp Edge of Life

= Subscribers only.
Sign in here.
Subscribe here.

The Great Republican Land Heist

= Subscribers only.
Sign in here.
Subscribe here.

Captive Market

= Subscribers only.
Sign in here.
Subscribe here.

The Day of the Sea

= Subscribers only.
Sign in here.
Subscribe here.

view Table Content

FEATURED ON HARPERS.ORG

Article
The Great Republican Land Heist·

= Subscribers only.
Sign in here.
Subscribe here.

“The wholesale transfer of public lands to state control may never be achieved. But the goal might be more subtle: to attack the value of public lands.”
Photograph by Chad Ress
Article
The Sharp Edge of Life·

= Subscribers only.
Sign in here.
Subscribe here.

“The struggle of the novelist has been to establish a measure, a view of human nature, and usually, though not always, as large a view as belief and imagination can wring from observable facts.”
Photo by Eddie Adams/Associated Press
Article
Captive Market·

= Subscribers only.
Sign in here.
Subscribe here.

"Fear of random violence lives on, but the reality is that violent-crime rates have dropped to levels not seen since the early Seventies."
Photograph by Richard Ross
Article
The Day of the Sea·

= Subscribers only.
Sign in here.
Subscribe here.

“Fifteen judges will then sit together in a wood-paneled room, in a city thousands of miles from the Andes, and decide whether the ocean Bolivia claims as its right will at last be returned to it.”
Photo by Fabio Cuttica/Contrasto/Redux
Post
Introducing the February Issue·

= Subscribers only.
Sign in here.
Subscribe here.

The Ruin of the West
Christopher Ketcham investigates Cliven Bundy’s years-long battle with the BLM, Annie Murphy reflects on Bolivia’s lost coast, and more
Painting by Richard Prince, whose work was on view in October at Gagosian Gallery in New York City © The artist. Courtesy Gagosian Gallery

Percentage increase in the annual number of polio cases in Pakistan since 2005:

857

A bowl of 4,000-year-old noodles was found in northwestern China; and a spokesman for the Chinese Academy of Sciences said that “this is the earliest empirical evidence of noodles ever found.”

A federal judge sentenced the journalist Barrett Brown to 63 months in prison for sharing a link to information stolen from the private-intelligence firm Stratfor by a hacker in 2011. “Good news!” Brown said in a statement. “They’re now going to send me to investigate the prison-industrial complex.”

Subscribe to the Weekly Review newsletter. Don’t worry, we won’t sell your email address!

HARPER’S FINEST

In Praise of Idleness

By

I hope that after reading the following pages the leaders of the Y. M. C. A. will start a campaign to induce good young men to do nothing. If so, I shall not have lived in vain.

Subscribe Today