Steve Hochstadt: Despite the billions in damage to our economy that the shutdown caused and the unanimous warnings from economists across the world that a government default would create much worse damage, Republican politicians did not budge.
Julie Driscoll: Although it’s not really necessary to “know the enemy” (since our enemies have already outed themselves as idiots and numbskulls hugging their guns and building underground bunkers), it’s on sites like teaparty.org where true radical right-wingers are born, bottle-fed, nurtured and set free to wreak havoc.
Anthony Samad: The Republicans need a vehicle with a big enough horn to get the public’s attention. They need to raise the ideological rhetoric just to have a chance. Regardless of what it does to the nation. The rhetoric bomb is coming under hood and sheets. The question is, will the nation stand for it.
Ellen Brown: The burgeoning debts of the Eurozone countries are being blamed on their large welfare states, but these social systems were set up before the 1970s, when European governments had very little national debt. Their national debts shot up, not because they spent on social services, but because they switched bankers.
Steven Conn: For thirty years inflation has not been a serious threat to the American economy, yet politicians and pundits continually fret about it. The never-ending worry about inflation is like fighting the last war rather than the current one. What’s needed today is a war on unemployment and wage stagnation, not inflation.
The recent debt ceiling negotiation wrestling match resulted in the United States losing its AAA credit rating and also resulted in the creation of a new committee. The Joint Select Committee on Deficit Reduction, also known as the Supercommittee or Super Congress, was created by the Budget Control Act of 2011 on August 2.
Mark Naison: It behooves us, as progressive organizers and justice fighters, to keep the lines of communication open to people in these organizations, and be there to work with them if they join us in resistance to policies that concentrate economic sacrifice amongst America’s poor.
Robert Reich: S&P’s intrusion into American politics is also ironic because, as I pointed out recently, much of our current debt is directly or indirectly due to S&P’s failures (along with the failures of the two other major credit-rating agencies — Fitch and Moody’s) to do their jobs before the financial meltdown.