The Rich Are Destroying the Economy

bank-robbery

Shamus Cooke: Because both parties simply threw money at the banks and hedge funds instead of punishing them, a condition of “moral hazard” was created, meaning, that banks would assume another bailout would come their way if they destroyed the economy again — too big too fail, remember?

Washington’s Endless Wars

conquest-wide

William Astore: Our wars and their impact are kept in remarkable isolation from what passes for public affairs in this country, leaving most Americans with little knowledge and even less say about whether they should be, and how they are, waged.

The Republican Strategy

antonin scalia

Robert Reich: The Republican strategy is to split the vast middle and working class – pitting unionized workers against non-unionized, public-sector workers against non-public, older workers within sight of Medicare and Social Security against younger workers who don’t believe these programs will be there for them, and the poor against the working middle class.

Why We Should Beware Budget-Deficit Mania

Erskine Bowles and Alan Simpson

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.

Obama’s Summer of Discontent

michelle and barack obama

John Peeler: Overall, Obama has been successful as the leader of Washington. Where he is failing is as the leader of the country. That’s a surprise, given his short political career, and his very impressive rhetorical skills.

Budget Cowardice Compounds Problem

deficit hawks

Steve Hochstadt: When conservative Republicans controlled Washington under George Bush, they spent government money on their pet projects with little regard for the long-term budgetary consequences. Now Republicans at the national level have made the deficit one of their major points of attack against the Democrats in preparation for the November elections.

Obama Must Take Charge

golf-oil-spill

Robert Reich: Obama has no ass to kick until he’s in charge. Obama should take over BP’s rescue operation. That’s the only way the public can be sure all necessary resources are being put to the job, that public risks are being properly weighed, and it’s getting the truth.

What Scott Brown’s Victory Really Means

Economic Grip

Robert Reich: Here’s what’s really going on. In Massachusetts, in New Jersey, all over the nation, voters are petrified of losing their jobs, their homes, and what’s left of their savings. Nothing counts more than the economy. Rightly or wrongly, presidents and the party in power are blamed when the economy is lousy.

Two Ways to Pay as You Go

Rep. Steny Hoyer (D-Maryland)

We need to move at least a fraction of the wasteful money in the bloated pigged-out Pentagon to programs that serve useful purposes. This is a progressive and a majority position.

Media Cries “Deficit” to Defeat Progressive Agenda

lucy-football

Despite all of the economic history of the past 30 years, the traditional media is brushing off its favorite bogeyman – the budget deficit – to defeat and/or scale back President Obama’s progressive budget, education, and health care agenda. The New York Times warned in a front page story on March 21 that a new [...]

The Rebirth of Keynes, and the Debate to Come

John Maynard Keynes

by Robert Reich – The economy has just about come to a standstill – not so much because credit markets are clogged as because there’s not enough demand in the economy to keep it going. Consumer spending has fallen off a cliff. Investment is drying up. And exports are dropping because the recession has now [...]

Election 2008: Barack Obama and the Future of American Politics

This Democratic victory should be seen primarily as a rejection of the sectarian conservatism of the George W. Bush Administration. There is certainly a mandate to reimpose sensible regulation on the economy, to do something (exactly what is not so clear) about a failing health care system, and to find a way out of Iraq. [...]

Is National Masochism Causing The Tight Presidential Race?

I don’t understand. As Juan Cole notes this morning, Republicans came to Washington in 2000 with a solid majority in both houses of Congress and on the Supreme Court, allowing them to steal the presidency. If you ever wanted to know what a pure Republican Party government unhindered by Democrats or anyone else might look [...]

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