My wife and I are boomers on fixed incomes. Inflation would definitely hurt us, especially in a couple of years when about all we will have is Social Security and the remnants of my 401(k). And yet I agree with Dr. Krugman, as I usually do. Our short term pain will be more than offset if more people are employed and the economic pump is truly primed. My wife and I will make do. Because it is better for all of us if people like us do that.
And we are not doing that because we are secure. We will probably have to leave our home in two years, and become part of the renting class. We are both disabled. Severely so in my case, almost as bad for my wife. Our most rational choice, to help our daughters, would be suicide. Yet we persevere. Part of it is mulishness. Before I die, I want to see the right wing in this country brought to heel. I want to see a real progressive in the White House, or at least someone who will use the bully pulpit, as I now think Hillary Clinton would have, while President Obama has not. Hillary is no progressive; she is an Ivy League establishmentarian like Obama. And, frankly, like me.
But I retain my sense of social responsibility, and am at a point in my life where my comfort, indeed my survival, is less important than righting the sinking ship of state that is my beloved country. So keep the pedal to the metal, Dr. Krugman. If nothing else, you are our most visible canary in the coal mine.
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