Paul Krugman | King George's Crumbling Monarchy

"Somehow political power has fallen into the hands of people who want to dismantle everything that works, and conduct business as if they were running a medieval duchy - or a third world tin-pot dictatorship. (Yes, contractors in Iraq really did receive duffel bags filled with $100 bills.) And it turns out that they can do immense damage in a very short time," writes Paul Krugman. "Remember that FEMA was regarded as one of the best agencies in the federal government at the end of the Clinton years."

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