Robert Reich: Too many Democrats inside and outside the Beltway have ingested the deficit cool-aide that the “serious people” on Wall Street have serving for two decades.
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.
Robert Reich: Senate Minority Leader Mitch McConnell’s compromise on the debt ceiling is a win for the President disguised as a win for Republicans. But it really just kicks the can down the road past the 2012 election – which is what almost every sane politician in Washington wants to happen in any event.
Brent Budowsky: The president’s budget and congressional responses will have a revolutionary impact on American politics that will either cement the total domination of the right and humiliation of progressives in the battle of ideas, or pave the way for House Dems to restore Democratic control in 2012.
Brent Budowsky: Prediction – Sarah Palin will issue a Sherman statement declaring she will not run for president in 2012, and will instead host a one-hour political talk show on network or cable television that will become the highest-rated political talk show in TV history.
Randy Shaw: The Republican Party and Democratic so-called “deficit hawks” attack any proposed defense cuts as “job killers.” Yet this alliance refused to save the jobs of hundreds of thousands of teachers, and have backed tax and spending policies that have cost the nation millions of jobs in recent years.
LA Progressive Aritcles: Georgianne Nienaber, Anthony Samad, Mario Solis-Marich, Tina Dupuy, Robert Reich, Diane Lefer, Seth Hoy, Randy Shaw, David Love, Joseph Palermo, Paul Hogarth, Shamus Cooke, David Swanson, Andrea Nill, Sherwood Ross, Berry Craig, Donald Price, Steve Hochstadt, Ed Rampell, Nina Zippay and Fernando J. Orozco, Sharon Kyle, and Joseph Palermo