You Get What You Pay For

Americans now have one of the most unequal distributions of income and wealth in the industrialized world, yet they still aspire to making a number of ever-more expensive basic services — education, justice and health care — available to all citizens on roughly equal terms, even though that vision is not consistently realized in practice. The lofty vision inevitably implies transfers from the well-to-do to the lower-income strata.

Economist Uwe Rehinhardt has a good piece on the New York Times Economix blog outlining that a fundamental problem with our federal budget is that Americans want more services from the government than they’re willing to pay for. He’s less sure on the solutions…

For Me, Not Thee

When he talks about borrowing money today and forcing that debt on the unborn he is literally talking about the very scheme that the Cubs are pushing. That plan calls for the bonds to be paid off over 35 years through amusement taxes.

I saw this on Roger Ebert’s Twitter feed: Joe Ricketts, head of the family that now owns the Chicago Cubs, has spent time and hundreds of thousands of dollars of his own money railing about government spending even as the family asked for a $300 million Illinois bond issuance for the renovation of Wrigley Field.

Windy City Watch does a great job detailing the hypocrisy.

Biden in the Onion

“I need to steer clear of D.C. until some shit blows over,” said Biden, sitting in the far corner of a Mexican cantina with his back to the wall and taking a long swig from a bottle of Tecate Light. “It’s nothing I can’t handle, but let’s just say there was a little misunderstanding. Somebody didn’t get something they were supposed to get.”

“And somebody else got a whole lot more than they bargained for,” he added.

The New York Times has a story examining the Onion’s representation of Vice President Joe Biden as a trailer park Lothatio. The story is great, but better is the link to the articles themselves, which are hilarious. (I love the recurring Trans Am.)

Quote from “Biden to Cool His Heels in Mexico for a While.”