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Through at the end of the bush presidency. austerity is the solution according to the beltway. they want the government to spend less, which sounds great if you see it only as government spending and not as stuff that the government does. spending, that can t be good for anything, but stuff the government does, yeah, sometimes that s stuff we want. a week and a half ago, they tried to relaunch the magna carter, the simpson/bowles plan. the conservative american austerity idea been around for a few years now, but they attempted to relaunch it on the morning that ended up being the day that boston was locked down for 17 hours while the nation was transfixed by the man hunt for the boston bombing suspect. bad timing, right? both in terms of the optics of relaunching, in the midst of a massive and ultimately successful government effort to find that bombing suspect. that was the day that the streets of watertown, massachusetts, literally lined with americans crying with joy ....
They say austerity. this has gotten conflated with the republicans position. you should reduce the deficit but not by cutting defense and absolutely not in any way by raising taxes. if it requires raising taxes even a dollar, then better not to reduce the deficit at all. better possibly even to default on the debt which brings all the terrible consequences of a debt crisis all at once artificially. something they don t typically believe that further government action to help out the economy probably isn t merited. if you think of these academics who have become associated with austerity, they ve argued for principal write-downs where the government would make mortgages cheaper for people, for higher inflation. the republican party wantse of i think what the republican party is actually advocating is quite a bit less coherent even than austerity. what is it? ....
The one thing that government does that they were bothered by. making the planes run safely and on time. coincidentally, they passed that legislation before all going to the airport to get on planes themselves to go home at the end of congress calling it a day. cutting hundreds of billions of dollars at once out of what government does hurts us as a country. what we have learned, though, thus far by doing that is that only some people get relief from those cuts. only people with political capital get relief from those cuts. congress feels your pain, we ll get on fixing that. the reason we are doing this, inflicting harm on the country, all this harm on people who do not have enough political capital to save themselves is the ne of austerity. the overall idea right now, it s the conservative idea of what to do for a nation going through an economic shock that we went ....
Does that they were bothered by. making the planes run safely and on time. coincidentally, they passed that legislation before all going to the airport to get on planes themselves to go home at the end of congress calling it a day. cutting hundreds of billions of dollars at once out of what government does hurts us as a country. what we have learned, though, thus far by doing that is that only some people get relief from those cuts. only people with political capital get relief from those cuts. congress feels your pain, we ll get on fixing that. the reason we are doing this, inflicting harm on the country, all this harm on people who do not have enough political capital to save themselves is the doctrine of austerity. the overall idea right now, it s the conservative idea of what to do for a nation going through an economic shock that we went ....
And cheering their emergency services. clapping their government workers on the back for a job well done, the nation is grateful. that is a bad day to launch the let s fire all the government workers plan, right? bad timing for the simpson/bowles relaunch that day. well, yesterday they re-relaunched it in friendlier environments, they relaunched it on the op-ed page of the washington post. the bigger picture is that the whole doctrine that austerity is a good thing for economies, specifically for economies in trouble, that whole doctrine globally is falling apart. falling apart here at home, it s falling apart globally, as well. and joining us now for more perspective on that is our friend ezra klein, an msnbc policy analyst, thank you so much for being here. thank you for having me. helium crisis sounds totally funny, totally a real thing, people should be totally worried. people should be totally ....