The Great Disconnect Between Stocks and Jobs

Unemployment

In the Great Recession of 2008-2009, companies are going a step further. They’re using this sharp downturn to cut payrolls even below where they were when times were good. Outsourcing abroad, setting up shop in China and elsewhere, contracting out, replacing people with software and automated machines – they’re doing whatever it takes to get payrolls down so earnings bounce up.

Obama, China, and Wishful Thinking About American Jobs

China-budget

The dirty little secret on both sides of the Pacific is that both America and China are capable of producing far more than their own consumers are capable of buying. In the U.S., the root of the problem is a growing share of total income going to the richest Americans, leaving the middle class with relatively less purchasing power unless they go deep into debt.

An Open Letter to Harry Reid on Controlling Health Care Costs

Harry

Wrap these reforms together — a public option open to everyone (allow states to opt out of this if they dare), Medicare-negotiated drug benefits, no 12-year monopoly for new drugs, and a major squeeze on Medicare reimbursements for doctors — and have CBO score the savings. I guarantee you, the number will be large. Then you should dare anyone, Democrat or Republican, to vote against saving Americans so much money in years ahead.

Why Wall Street Reform Is Stuck in Reverse

Geithner

Executives and traders on the Street have become the single biggest sources of money for Democrats as well as Republicans. And with mid-term elections looming next year, you can bet every member of Congress has a glint in his or her eye directed at the Street.

Like Letterman, Obama Needs to Refuse to Pay Hush Money

Letterman-color

But if Obama doesn’t weigh in forcefully and say “no” to the hush money for Big Pharma, big insurance, and the AMA, America’s middle class will get walloped. And if the walloping starts before 2012, Sarah Palin or some other right wing-nut populist will wallop Obama.

So Much Happening in Washington and So Little to Show for It, So Far

Politics Elephant cartoon

The public doesn’t know what’s going on because the national media would rather report on the sexual escapades of famous people or social trends or high finance (a recent Pew study of economic reporting shows the vast majority of stories about the Great Recession have focused on Wall Street rather than Main Street).

Specifically, What Should Be Done for Jobs?

Alan Greenspan cartoon

It would be hard to get a new stimulus package through Congress, but no member who’s up for reelection next year when unemployment is likely to be in double digits wants to be accused by rivals of voting against steps to help small businesses, public schools, childrens’ health, and average working people who need a tax cut.

The Public Option Lives On

First-day

Big Pharma and Big Insurance hate the public insurance option even more than they hate big Medicare discounts. And although the President has sounded as if he would welcome it, political operatives in the White House have quietly reassured the industries that it won’t be included in the final bill.

Why Olympia Snowe Should Vote Against the Baucus Plan

Olympia-color

How is it that a decision next week by a single Senator from Maine will almost certainly determine whether America’s future healthcare system is still in the hands of private for-profit insurance companies and Big Pharma or enables more Americans to get better health care at lower cost?

The Continuing Disaster of Wall Street, One Year Later

Zombie-Bankers

Let’s be clear: Wall Street today is up to the same tricks it was playing before its near-death experience: Derivatives, derivatives of derivatives, fancy-dance trading schemes, high-risk bets. “Our model really never changed, we’ve said very consistently that our business model remained the same,” says Goldman Sach’s chief financial officer.

The Lessons from History on Health Care Reform

free-market

The ideal of universal care has revolved around two poles. In the 1930s, liberals imagined a universal right to health care tied to compulsory insurance, like Social Security. Johnson based Medicare on this idea, and it survives today as the “single-payer model” of universal health care, or “Medicare for all.” The alternative proposal, starting with Eisenhower, was to create a market for health care based on private insurers and employers.

What Obama Must Demand from Congress on Health Care

werewolves

In order to get anything meaningful through this session of Congress, then, the President will have to give Congressional Democrats far more leadership and more cover. Doing so is harder now than before the recess, when he was still basking in the afterglow of a honeymoon and 60% favorabilities.

Don’t Succumb to Deficit Hysteria

red-ink

The only item worth looking at is the part of the report that predicts the government will have nearly a $1.6 trillion deficit in the fiscal year that ends this September 30 — but not because that number is alarmingly large. It strikes me as alarmingly small.

How Tough Is Our President?

President Barack Obama jogs in to speak at a town hall meeting on health care in Belgrade, Mont. Friday, Aug. 14, 2009.(AP Photo/Alex Brandon)

The President’s centeredness, calm, and dignity inspire trust but also suggest a certain lack of combativeness, a reluctance to express indignation, and an unwillingness to identify enemies — resulting in a tendency toward compromise even at the early stages of controversy.

The Public Option’s Last Stand, and the Public’s

obama-crisis

Without a public, Medicare-like option, health care reform is a bandaid for a system in critical condition. There’s no way to push private insurers to become more efficient and provide better value to Americans without being forced to compete with a public option.

Related Posts Plugin for WordPress, Blogger...