POLITICS: “GOPs Immigration Reform ‘Problem is Their Base is Old White People'” / Paul Krugman

“The Republican Party has a problem,” [. . .] “The leadership understands that . . . they’re doomed if they are only the party of old white people, to put it bluntly. The problem is their base is old white people.”

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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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Paul Krugman: Paranoia Strikes Deeper

Stop, hey, what’s that sound? Actually, it’s the noise a great political party makes when it loses what’s left of its mind. And it happened — where else? — on Fox News on Sunday, when Mitt Romney bought fully into the claim that gas prices are high thanks to an Obama administration plot. . . .

. . . [T]he president of the United States doesn’t control gasoline prices, or even have much influence over those prices. Oil prices are set in a world market, and America, which accounts for only about a tenth of world production, can’t move those prices much. Indeed, the recent rise in gas prices has taken place despite rising U.S. oil production and falling imports. . . .

As Richard Hofstadter pointed out in his classic 1964 essay “The Paranoid Style in American Politics,” crazy conspiracy theories have been an American tradition ever since clergymen began warning that Thomas Jefferson was an agent of the Bavarian Illuminati. But it’s one thing to have a paranoid fringe playing a marginal role in a nation’s political life; it’s something quite different when that fringe takes over a whole party, to the point where candidates must share, or pretend to share, that fringe’s paranoia to receive the party’s presidential nod. . . .

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