Walter Moss: From the Reagan years to the present, conservatives have been fond of quoting Friedman and Hayek. Their influence can be seen in such documents as the Republican Party’s 1994 “Contract with America.”
What’s happening to the lives of the legions out of work – particularly the young men and women – has to take second place to the fortune of the President and his party. The human crisis would be real regardless of who is in the Oval Office and is what should move the President and the Congress to do the right thing.
The 30-year class war the rich launched against the working people in this country (and reached its apogee during the George W. Bush years), has left the middle class reeling and wounded. Only bold federal action that puts something concrete in the palms of middle-class Americans can begin to turn these dire social conditions around.
In a word: No. The plan doesn’t stop stop bankers from making huge, risky bets with other peoples’ money. It does increase capital requirements and oversight, but it doesn’t require bankers to take their pay in long-term stock options or warrants, and it doesn’t even hint that banks should go back to being partnerships instead […]
It’s the kind of thing I expect to hear from deficit hawks and chicken littles — from the self-described “fiscally responsible” right, from the scolds Ross Perot and Pete Peterson, from my former cabinet colleague Bob Rubin. But yesterday I was shown slides developed by the putatively liberal Center for American Progress intended to make […]
“Demonizing the bankers as if they and they alone created the financial meltdown is both inaccurate and short-sighted,” Citigroup chairman Richard Parsons told reporters recently. “Everybody participated in pumping up this balloon and now that the balloon has deflated, everybody has some part in the blame.” Oh no we don’t. Talk about dissembling. The truth […]
One of the first things President Barack Obama did as our nation’s Chief Executive was to urge Congress to pass, then sign, the American Recovery & Reinvestment Act (ARRA), better known as the nation’s “economic stimulus” package. The $787 billion bill, the largest taxpayer footed bill ever passed, was viewed as the primary vehicle to […]
The construction industry, which stands to gain the largest share of new jobs generated by the economic stimulus package — 670,000 jobs nationally — has a dismal record of insuring its workers, even in the best of times. A study released today by the Center on Policy Initiatives, Construction: Working Without a Healthcare Net, found […]
Newspaper and television are running a narrow story quoting out-of-date and out-of-context data prepared by the immigration restrictionist group, the Center for Immigration Studies (CIS), who is alleging that 300,000 “illegal immigrants” will benefit from jobs created by the recently-approved economic stimulus plan. Unfortunately, these stories provide no counter-analysis from other research groups or experts […]
The faculty in the California State University are deeply concerned about the rapid decline in the ability of our nation’s largest four-year university system to deliver higher education to all eligible students. Our public university system is staggering from deep cuts to state funding already made this year, last year, and earlier this decade. Now […]
The New York Post issued a “sideways” explanation (I really wouldn’t call it an apology) on a provocative and highly incendiary political cartoon it ran on February 18th. Combining two news events of the day, one in which a Connecticut woman named Charla Nash was attacked by her “pet” chimpanzee — which nearly ripped off […]
Southern Republican Governors Haley Barbour of Mississippi, Bobby Jindal of Louisiana, Rick Perry of Texas, and Mark Sanford of South Carolina are making noises about “refusing” federal dollars from President Barack Obama’s economic stimulus package. They are posturing in a way reminiscent of an earlier generation of Southern governors who stood for “states’ rights,” which […]