[Hello, yes, I know! It’s been two years!]
David Dayen’s great review of Molly Ball’s fawning Pelosi bio foregrounds two things I’ve been shouting about:
1. “… during the crucial months of March and April, Pelosi became a one-woman House of Representatives, unilaterally writing legislation or negotiating with Republicans, and presenting the finished product to House members, take it or leave it.”
2. She adheres to absolutely deranged and antiquated views on debt and deficits. “[J]ust two years ago, [she] made a lugubrious elegy on the House floor after the death of [private equity pioneer] Pete Peterson, who bankrolled the deficit hysteria industry for decades and relentlessly targeted Social Security for cuts. (Ball does reveal that Pelosi told Obama during his “grand bargain” talks that she would support his aims, “even if it meant agreeing to entitlement cuts.”)
Educated people in finance and politics are coming around to understand how money works via MMT. It’s absolutely tragic that the leader of the putative left-most party IN A PANDEMIC clings to what are basically superstitious ideas of what a government can and can’t do.
I’m reminded that one-quarter of the population of Ireland starved during the Great Famine because the powers-that-be saw the “potato-dependent economy as the result of Irish backwardness and self-indulgence” and didn’t want to intervene in the divine system of the market, “guided by spiritual laws.”
Nancy apparently believes in spiritual laws stipulating the size of a deficit. If lives are destroyed, and people die because of a dimwitted superstitious orthodoxy, that’s too bad. The ghost of Pete Peterson will be pleased, and that’s what counts.
