Excellent column by Paul Krugman in the New York Times.
The important thing to understand now is that while the election is over, the class war isn’t. The same people who bet big on Mr. Romney, and lost, are now trying to win by stealth — in the name of fiscal responsibility — the ground they failed to gain in an open election.President Obama and congressional Democrats hold the cards since the election. Let's hope they play the game to the advantage of the great majority of the citizens of the country. Keep in mind that the fiscal cliff is not that at all, but is rather a fiscal incline, and, if it comes to that, the slide down the incline will play a lot worse for Republicans than for Democrats.
....
Consider, as a prime example, the push to raise the retirement age, the age of eligibility for Medicare, or both. This is only reasonable, we’re told — after all, life expectancy has risen, so shouldn’t we all retire later? In reality, however, it would be a hugely regressive policy change, imposing severe burdens on lower- and middle-income Americans while barely affecting the wealthy. Why? First of all, the increase in life expectancy is concentrated among the affluent; why should janitors have to retire later because lawyers are living longer? Second, both Social Security and Medicare are much more important, relative to income, to less-affluent Americans, so delaying their availability would be a far more severe hit to ordinary families than to the top 1 percent.
Note to Mr President and Congressional Democrats: Hold the line! (You don't need to tell me; I know I'm mixing metaphors.)
As for Thelma and Louise, they landed safely and moved to Mexico.
