Archive for the ‘Peggy Noonan’ Tag

Quote of the Day   2 comments

Nobel prize-winning economist Paul Krugman on Sunday explained to Wall Street Journal columnist Peggy Noonan that she was wrong to slam President Barack Obama for not compromising with Republicans on the debt ceiling because you don’t negotiate with “hostage takers” who are trying to “blow up the world economy.”

“The White House position, which is right, is that there should be no bargaining over this,” Krugman told a panel on ABC’s This Week. “If the Republican majority in the House wants to cut spending, let them propose legislation that cuts spending and pass it, not hold America hostage.”

“We should not allow this to become or be thought of as a legitimate budget strategy,” Krugman warned. “This is hostage taking, this is walking into a room and saying, ‘I’ve got a bomb, give me what I want or I’ll blow up this room.’ This has never happened before and should not be allowed to happen.”

“This is much scarier that the fiscal cliff because we don’t know what it does,” he continued. “What we do know is that U.S. government debt is the global safe asset. It is what every financial transaction relies on as the ultimate, this is what value consists of — and better than gold, better than anything. U.S. Treasury bills are the thing. If they are called into question, nobody knows what happens.”

Noonan, however, insisted that the president “should be sitting down and talking with those who would attempt to move forward on spending.”

“I consider it unusual that this president can never make a deal with those folks,” she opined.

“This is not something you negotiate over,” Krugman shot back. “You do not negotiate with hostage takers. That’s the White House position. They’re right about that. You just don’t negotiate on this. You can negotiate on the sequester, you can negotiate on taxes, but not on someone who is threatening to blow up the world economy if he doesn’t get his way.”

“My goodness,” Noonan replied. “That appeared to be the White House position on the fiscal cliff just a month or two ago. Why can nothing ever be worked out? We do have a president, we do have legislative leaders, we do — it should be noted — have a spending crisis in America. It is not an eccentric thing to worry about the amount of spending that America does.”

“You don’t do it this way,” Krugman disagreed. “This is a doomsday, this is really saying, ‘I will blow up world unless you give me what I want.’ And you don’t negotiate on that.”

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Stewart “So, age old story.  Boy meets girl, boy marries girl, boy gets promoted, boy bangs underling.  Nothing more, nothing less.  Or is there?”

Fox Pundit #1 11-12-12″This was announced on Friday, three days after the Presidential election.  Was it held?”

Peggy Noonan 11-11″When was the White House told?  You have to wonder what the heck is this.”

Fox Pundit #2 11-11 “Awfully convenient to be told Tuesday at 5pm of election day, which is the story now.  Frankly, it doesn’t pass the smell test.”

Stewart “It has a yucky smell.  Conspiracy 1, the FBI held back the Petraeus affair story to prevent Obama from losing the election.  Why Petraeus’ affair would have any effect on the election, I’m not sure.  The point is, if only a Republican had known about this prior to election day.  Ha ha.”

Reporter 11-12 “House Majority Leader Eric Cantor said an FBI employee told him in October about the Petraeus affair.”

Stewart “Oh.  The real question is, why is Eric Cantor protecting the President?  All right, conspiracy 1 down.  Why would the administration want to take out Petraeus now?”

Fox Pundit #3 11-10 “This is highly suspicious in it’s timing.”

Fox Pundit #4 11-12 “A few days before Petraeus was set to testify about what he knew about Benghazi and what the CIA did.  It just doesn’t make sense.”

Fox Pundit #5 11-12 “So many people are saying, well, that’s kind of suspicious.”

Fox Pundit #6 “This is suspicious.”

Fox Pundit #7 “Now he’s not going to testify folks.”

Stewart “They jacked him.  Right before he was about to testify on Benghazi.  Conspiracy 2, now we’ll never know what Petraeus knew, unless quitting is different from dying.  And it has no bearing on whether Petraeus will have to testify.”

Fox Pundit #8 “That’s a little bit nonsense.  He will be summoned up to the hill and he will testify.”

Stewart “Or will he?  Oh, he will.  Of course, Petraeus has already spoken to Congress once about Benghazi.  We know what that’s worth.”

Fox Pundit #9 “What did David Petraeus do right after we started to find out about Benghazi?  He seemed to side with the White House in the analysis that it was the video tape.  Why did David Petraeus side with the White House in that testimony?  He knew he was under investigation for his personal life, but is there more to this story about why he said that?”

Stewart “Conspiracy 3, either the President of the United States blackmailed the head of the CIA, forcing him to agree with the administrations lie, or that theory is stupid.  Still, though we don’t have the facts, we do have feelings.”

Peggy Noonan 11-11 “this is one of those what the heck is going on kind of moments…This feels a little like Homeland, almost.”

Stewart “Really?  Like the show Homeland?  ‘Cause it’s not Homeland.  It’s Melrose Place.”—david-petraeus-resigns