Paul Krugman

Paul Krugman @paulkrugman

I almost never watch Congress in action live. The passage of the ACA may have been the last time. But this was not to be missed. — PolitiTweet.org

Paul Krugman @paulkrugman

What a moment. Don't let anyone minimize it by saying that progressives didn't get everything they wanted. Democrats — and it was only Democrats — have given us a real chance at avoiding an existential climate crisis. — PolitiTweet.org

Paul Krugman @paulkrugman

Indeed; interesting to see Gas Buddy Guy justifiably losing his temper, a bit. But I'd add that even pre-pandemic gas prices were unsustainably low due to a fracking bubble that was losing money at an amazing rate. Relative to wages, gas is *cheaper* than it was in, say, 2013 — PolitiTweet.org

Paul Krugman @paulkrugman

RT @JesseJenkins: @paulkrugman That's exactly right Paul. We estimate the Inflation Reduction Act delivers about 80% of the cumulative emis… — PolitiTweet.org

Paul Krugman @paulkrugman

But on the existential issue of fighting climate change, it looks to me as if Biden is about to get something like 90 percent of what he was seeking. That is a BFD 5/ — PolitiTweet.org

Paul Krugman @paulkrugman

What was lost was a lot of social spending — child tax credits, pre-K, and more. These losses are tragic: we will be a poorer, less just society than we could have been (and might yet become if Democrats pull an upset in November) 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

As I read the REPEAT analysis, this bill's climate action comes pretty close to achieving BBB's goals 3/ https://t.co/1ZDh9QejqK — PolitiTweet.org

Paul Krugman @paulkrugman

A lot of focus on how much smaller in dollar terms than the original BBB proposal — although you want to bear in mind that the bipartisan infrastructure bill added about $550 billion spending over baseline. But also important to understand what *wasn't* lost from BBB 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

So it looks as if this is really happening. And I don't think people have fully grasped the achievement 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

Actually, this kind of ties in with the dystopian vision Red America has of Blue America. Lots of people believe BLM burned Manhattan to the ground; the same people will believe that CA gas is $8.25 (it's above the national average, but coming down) https://t.co/Aaej6eeas1 — PolitiTweet.org

Paul Krugman @paulkrugman

As I wrote yesterday, the GOP response to falling gas prices seems to be simply to deny that it's happening. Then when the CPI comes out they'll claim the numbers are fake. — PolitiTweet.org

Paul Krugman @paulkrugman

Another point I haven't seen made: more jobs added under Biden so far than in the first 37 months of the Trump administration — ie before the pandemic plunge https://t.co/4FuLJ3iHk3 — PolitiTweet.org

Paul Krugman @paulkrugman

Not suggesting that politicians declare America a nation of whiners. But some perspective is useful here 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

Also worth nothing that when gas was cheap, in the more distant past, mileage was terrible, so cost per mile wasn't all that low 3/ https://t.co/ewH0yrzfwi — PolitiTweet.org

Paul Krugman @paulkrugman

Those low prices of the late 2010s were an anomaly driven by the fracking bubble. By recent historical standards, gas isn't especially expensive 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Continuing my hobby of thinking about gas prices in historical perspective. Here's the price of 10 gallons of gas in hours of wages of nonsupervisory workers (longer time series): 1/ https://t.co/eES4mjFuDx — PolitiTweet.org

Paul Krugman @paulkrugman

Conversation overheard at supermarket meat counter: Customer:"Meat just keeps getting more expensive" Butcher: "Actually, prices have been coming down" — PolitiTweet.org

Paul Krugman @paulkrugman

The GOP's main campaign plank is getting sawed off https://t.co/mmj1QeOm8U — PolitiTweet.org

Paul Krugman @paulkrugman

RT @WHCOS: Kudos, @nytimes https://t.co/UH1PYuuGpO — PolitiTweet.org

Paul Krugman @paulkrugman

If I am not for myself, who will be for me? So: this newsletter, which generated more hate mail than I've seen since the Iraq War, is looking pretty good this morning https://t.co/48qpo9uoQL — PolitiTweet.org

Paul Krugman @paulkrugman

It's a recession, I tell you! Actually not good news: The Fed needs to cool off the economy, which this report says isn't happening yet, and wage increases hotter than expected https://t.co/MvSkIP8eVU — PolitiTweet.org

Paul Krugman @paulkrugman

Their response to the Inflation Reduction Act is pathetic. And I'm feeling more cheerful than I have in months https://t.co/w0cNvvvYc2 — PolitiTweet.org

Paul Krugman @paulkrugman

Yes, I'm aware that the good inflation news may well be transitory; underlying numbers still not showing a break downward. But good luck trying to make a sophisticated argument after months of Biden=$5 gas 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

Inflation 3/ https://t.co/8V1vnyEWke — PolitiTweet.org

Paul Krugman @paulkrugman

Gas prices 2/ https://t.co/g6BHAeAqgC — PolitiTweet.org

Paul Krugman @paulkrugman

Kind of funny. Rs decided to run on surging gas prices and inflation, and are in denial about the reversal in trends 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

I was wondering how Rs, who bet big on "$5 gas!" as an election theme, would deal with falling prices. One response is to pretend that it isn't happening. Another is to claim a conspiracy. No doubt gas prices are being manipulated by an Italian satellite — PolitiTweet.org

Paul Krugman @paulkrugman

Despite lots of economic growth, British CO2 per capita is back down to the levels of the 50s — the *1850s*. Emissions reflect choices, not the level of GDP 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

On the margins of actual policy debate, there's a bit of harassment from "degrowthers" who insist that environmental protection requires an end to growth. Folks, here's a chart 1/ https://t.co/e4yLwPxeEu — PolitiTweet.org

Paul Krugman @paulkrugman

RT @adamgurri: Good analysis of the sanctions from @paulkrugman https://t.co/7NU2KQeF1Y — PolitiTweet.org