Why Main Street Isn’t Getting Any Better

jobs

Robert Reich: Americans have no choice but to pare back their debt. That’s bad news because consumer spending is 70 percent of the economy. It helps explain why we so few jobs are being created, and why we can’t escape the gravitational pull of the Great Recession without far more government spending.

Bush Recession Comes Home to Roost

tax chart

Adam Eran: Tax cuts caused the current budget deficit, not crazy spending. Local government revenues fell 57% after Proposition 13. Even more egregious, the consume-atives™ (they do not conserve), now complain that State funding for local governments to fill that revenue hole meddles too much in local affairs.

On Barack’s Platter: Iraq’s Disastrous Fallout

President Barack Obama will face a daunting international scene in January as a direct consequence of George Bush’s ill-conceived adventure in Iraq. Having argued forcefully that the war should never have been fought, and having committed himself to a “responsible” withdrawal, Obama will indeed inherit responsibility for Iraq.