Robert Reich: The leaders of the Street and big business may now have to wake up to a reality they’ve tried to avoid — that the central economic problem of our time isn’t the long-term budget deficit but the immediate deficit in aggregate demand.
Robert Reich: Tea Partiers have almost as much contempt for big business and the Street as they do for government. After all, the Tea Party was born in anger over the Wall Street bailout. This is the heart of the civil war in the GOP.
Randy Shaw: In a galvanizing April Fools’ Day speech in Madison, Wisconsin, President Barack Obama announced that his Administration would “no longer prioritize military spending over educating our children.”
Robert Reich: The President has to reframe the debate around the necessity of average families having enough to spend to get the economy moving again. He needs to remind America this is not 1995 but 2011 — and we’re still in a jobs crisis brought on by the bursting of a giant debt bubble and the implosion of total demand.
Tracy Emblem: California taxpayers should carefully consider the cost-benefit analysis, because when we cut public funding for these institutions, we cut our state’s economic advantage and future prosperity.
Randy Shaw: Brown’s history shows that he likes to shake things up soon after taking office, and he now has the perfect opportunity. The public desperately wants a solution to California’s longstanding budget crisis, and Brown’s political capital is as high as it will ever be following an election where Democrats won every statewide race and maintained all their Congressional seats.
Robert Reich: The first draft of the President’s deficit commission, written by its co-chairmen Erskine Bowles and Alan Simpson, is a pastiche of ideas – some good, some dumb, some intriguing, some wacky. The only unifying principle behind their effort seems to be to throw enough at the wall that something’s bound to stick.
John Peeler: Republicans stand to win an election even though more voters oppose their ideas than support them. What’s going on?
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.