ECONOMICS: “Extortionists Versus Con Men” / Paul Krugman

One faction basically wants to use the party’s power of obstruction: threaten to provoke a crisis over the debt ceiling — in fact, do this again and again — and thereby force Obama to implement the GOP agenda.

The other faction wants to achieve the same goals by stealth. Pretend that what you’re really concerned about is debt and the fate of our children; cultivate the Very Serious People and the deficit scolds; impersonate a budget wonk; and smuggle the agenda in by dressing it in fiscal responsibility camouflage.

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