Second Term Econ

Remember that time when the Bush administration silenced an actuary and lied $100 billion off the cost of Medicare reform so Congress would pass it? That was fun, even quaint. But this is a brave new second term world, baby! And $100 billion bucks ain't shit to these guys, so now they're saying they lowballed by $670 billion. Yowza! That's second term economics for ya! Bam!

But second term dynamics shouldn't be forgotten, either. Because right now the Bushies are doggedly trying to ram Social Security privatization through, and having little luck with it. As you followers of Josh Marshall know, the most effective, and common, Republican beg-off has been "y'know, yeah, good idea, but a bit later when the deficit looks smaller". Looks like a bit later just got a lot later, and the Conscience Caucus has found itself a rallying cry. What's that Rahm Emanuel? You want to close this one out? Do it, buddy:

"If you're looking for a crisis, I would suggest you look at a crisis that was self-made in just last year, because the crisis exists in what's happened to Medicare by weighing it down," Emanuel said. "Those of us who told you it was going to cost twice as much were right."