(C) Daily Kos
This story was originally published by Daily Kos and is unaltered.
. . . . . . . . . .
The point of no return [1]
['This Content Is Not Subject To Review Daily Kos Staff Prior To Publication.']
Date: 2025-02-14
I just read a piece by Paul Krugman about the politicization of government reporting agencies. He lays out the practical dangers this poses to the physical and financial well-being of Americans, but I think he misses the far more serious feedback loop it will have in the political dimension.
The death of accurate reporting by the CDC is particularly alarming. We are in the the initial stages of a potential bird flu epidemic. Without reliable reporting, Americans won't know to take steps to protect themselves, and thereby mitigate the spread of the disease and prevent it from becoming a pandemic. I don't mean to sound alarmist. Likely nothing will come of this variant, and when Felonious is gone, the next Administration can return to business as usual for CDC reporting.
He then discusses the consequences of inaccurate inflation reporting and its implications for interest rates, and indexed securities. Under reported inflation figures, and political pressure on the Fed, will hurt Americans on Social Security, impoverishing them and investors who purchase indexed Treasuries as a way to ensure their savings are both secure and outpace inflation.
What I think he doesn't go into is just how difficult it will be to put that genie back in the bottle. When the next Administration restores accurate economic data reporting, presumably a Democratic one, they and their party will be punished for surging inflation and interest rates. The Republicans will benefit electorally and upon winning back power, go back to the Felonious approach to data reporting. They will then run on the improved economy to secure another four years.
The next time a Democratic Administration comes to power, it will face a dilemma. Good governance on the data front risking a quick loss of power, or fight fire with fire in order to retain power so they can advance a wider progressive agenda. Either way they will be screwed. I can guarantee you that unlike the right, the left will join the chorus on the hypocritical right to attack Democrats. They are just too principled when it comes to governance to match the tribalism on the right.
But it really makes no difference whether the next Democratic Administration follows the right's lead or not. If they do, the right has won in so far as the state has become an extension of a despotic denizen in the White House. If they don't, they lose the office to a Republican who will treat the state as an extension of their despotic rule.
And on that happy note, let me leave you with this musical coda.
[END]
---
[1] Url:
https://www.dailykos.com/stories/2025/2/14/2303901/-The-point-of-no-return?pm_campaign=front_page&pm_source=latest_community&pm_medium=web
Published and (C) by Daily Kos
Content appears here under this condition or license: Site content may be used for any purpose without permission unless otherwise specified.
via Magical.Fish Gopher News Feeds:
gopher://magical.fish/1/feeds/news/dailykos/
