Greenspan the Partisan Crank

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I have strong memories of Alan Greenspan’s bizarro justification in 2001 for insisting that we stop running federal budget surpluses. It was convoluted, it didn’t make sense, and it was pretty obvious partisan hackery. But I confess that either I’ve forgotten, or I never quite realized, just how eccentric it really was. “I’ve seen theories this convoluted and loopy before,” says Jon Chait, after reminding us of Greenspan’s concluding flourish, “But they’ve usually been scrawled in long-hand by random cranks who mail letters to magazines.” No kidding.

UPDATE: Just out curiosity, is there anyone around today who actually defends Greenspan’s position back then? Maybe Larry Kudlow or Donald Luskin? Anyone?

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Truth #1: The chaos is the point.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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