Steven Hill: The White House says its 2014 budget will propose cuts to the retirement program. Not only is that unnecessary, the U.S. could and should expand it.
Steven Hill: The key is having a prolonged period of peace and stability so that the slow march toward prosperity can gather steam. Fortunately the European Union provides that space for Romania, despite the current challenges of the eurozone.
Steven Hill: So according to Krugmanomics, taking on too much debt is not the problem – it’s not being able to pay the debt that is the problem. And Krugman’s solution, apparently, is to be able to depreciate your currency and/or default on your debts, leaving the creditors holding the bag.
Steven Hill: One of the qualities holding Greece back from enjoying the benefits of a more modern economy is its reliance on an informal economy of family and social networks which too often translates into nepotism, back room deals and tax dodging. But during an economic crisis like this, those networks become valuable
Steven Hill: So when the authorities say “a recovery is under way” or “stimulus rather than deficit reduction” or “deficit reduction instead of stimulus,” remember: These are the same experts who are unsure of how to measure, who too often substitute ideology and partisanship for broken theory, and usually have been flat wrong in their assessments.
Obama should let any Democratic foot-draggers know that if they do not get with the program, he will un-elect them and put in Democrats more in tune with his priorities. The threat would be credible, as he is one of the great campaigners of modern political history.