What do we know about the people who retire at 62? On average, shorter life expectancy and lower earnings than people retiring at later ages. If anyone stood up and said, “Instead of doing uniform across the board cuts, let’s make them a little worse for people who have shorter life expectancies and lower earnings,” they’d be laughed at.
And yet, in DC, these folks aren’t laughed at. Instead, they’re seen as very serious people making the hard decisions.
(Source: Washington Post)
Larry Bartels, a political scientist at Princeton University, has done some fascinating research on the responsiveness of U.S. Senators to the policy preferences of voters, broken down by income level. The above graph shows what happens when candidates have to spend so much of their time plying high-dollar donors for big checks to fund their increasingly expensive campaigns. As The New York Times noted today, Mitt Romney and President Obama have both held more fund-raisers than they have public events over the last seven days.
(via Princeton University)