What Defunding Means

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New York Times

What Defunding Means

As some of us have been saying, financial markets are way too complacent about the debt ceiling — which we’re going to hit in as little as five weeks. Everything Republican leaders are actually saying suggests that they intend to go full-on blackmail, holding America’s full faith and credit hostage to the sacred goal of crippling Obamacare before it gets going. Assumptions that they will in fact blink are entirely faith-based.

And this article about the plight of the near-old — those close to, but not yet at, the Medicare age — shows what it is the GOP is willing to fight for, indeed to endanger the stability of world financial markets:

THE sweeping federal health care law making its major public debut next month was meant for people like Juanita Stonebraker, 63, from Oakland, Md., who retired from her job in a hospital billing office a year and a half ago.

She was able to continue her health insurance coverage from the hospital for a time, but when she tried to find an individual policy on her own, none of the insurers she contacted would cover her because she was diabetic.

Yes: Republicans are willing to push the economy and the financial system to the edge of disaster in order to deny people like Ms. Stonebraker coverage. Awesome, isn’t it?

Paul Krugman

Paul Krugman is professor of Economics and International Affairs at Princeton University and a regular columnist for The New York Times. Krugman was the 2008 recipient of the Nobel Prize in Economics. He is the author of numerous books, including The Conscience of A Liberal, The Return of Depression Economics, and his most recent, End This Depression Now!.

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