Budget Shocker: L.A. Shows $119 Million Surplus

downtown la

Gary Cohn: The reasons for Los Angeles’ comparatively good financial condition include a legal groundwork laid years ago that required specific funding safeguards, recent give-backs from public sector unions and an improving economy.

The Oligarchs’ Coup in Michigan

rick snyder

Joseph Palermo: With the stroke of a pen Michigan Governor Rick Snyder reduced the earning potential of millions of people, lowered the quality of the state’s schools and government services, and set up the next fiscal crisis when, lo and behold, they discover that low-wage workers have little means to pay taxes adequate to meet the basic needs of the state.

No Unions, No Middle Class

Caitlin Vega: A new study by the Center for American Progress confirms the cornerstone of our philosophy: unions are essential to creating a fair economy and rebuilding the middle class.

A Disengaged Presidency

obama presidential bracket

Brent Budowsky: Obama’s political strategy is to position himself as the lofty leader above the fray, appealing to voters who tell pollsters that “we must work together” without risking his elevated image of possessing the hands-on executive leadership that is required to make hard decisions on tough issues in a divided government.

California: Where Elections Don’t Matter

GOP_no

Joseph Palermo: We elected a Democratic governor and Democratic majorities in the State Assembly and the Senate. Yet five members of the Republican minority once again are in the driver’s seat and they’re determined to run the state right over the cliff.

Go to Wisconsin, President Obama

president barack obama

Paul Loeb: You need to go there and speak out, or at least speak out again and more strongly, because Americans need to understand what’s at stake, and those who are standing up there and elsewhere need to see you standing beside them.

Who Is the Spendthrift?

homeowners' lament

Steve Hochstadt: When the real estate boom turned out to be a house of cards, people’s debts came due much sooner than they had expected. Governments are much less to blame for the current foreclosure crisis than homebuyers, egged on by unscrupulous bankers.

LA Progressive: 23 to 29 May 2010 Articles

Articles by Patrick Henningsen, Tom Hall, David Swanson, Randy Shaw, Irene Monroe, Paul Hogarth, Norman Solomon, Tracy Emblem, Andrea Nill, Michele Waslin, Michael Sigman, Linda Milazzo, Sharon Kyle, Walter Moss, Mike Price, K. Danielle Edwards, Brad Parker, Michele Waslin, David Love, Tina Dupuy, Michael Sigman, Joseph Palermo, Robert Reich, Carl Bloice, Anthony Asadullah Samad, Diane Lefer, and Adam Eran

Financial Reform Too Small to Succeed

wall street reform

Joseph Palermo: The financial reform legislation currently winding its way through the Congress is a step in the right direction but it retains too much of the status quo that brought down the economy in the first place. The key problem, as many economists have been telling us, is that the top financial institutions remain “too big to fail.” Congress can enact all the regulations it wishes but even the best written rules won’t be enough to prevent another financial meltdown.

Lame Duck Terminator

Joseph Palermo: Schwarzenegger’s hackneyed “State of the State” address was pathetic and unconvincing. If it weren’t for his acting chops and his ability to emote on cue, he couldn’t get away with the simplistic platitudes that roll off his tongue. Then again, if he couldn’t act he wouldn’t be governor either.

California Needs a New Constitution

sonoma

In his most recent piece in the New York Times Paul Krugman asks: “Who would have thought that America’s largest state, a state whose economy is larger than that of all but a few nations, could so easily become a banana republic?” Here in Sacramento I’ve watched the disaster unfold before my eyes like a [...]

Arnold’s Legacy: Driving the State Towards Bankruptcy

arnold09

Governor Schwarzenegger’s May “budget revise” last week – which proposed more mass layoffs, more painful cuts and more reckless borrowing – had all the makings of the end of a Shakespearean tragedy, where the protagonist has run out of options due to troubles of his own making. One could also view it as the definition [...]

Who Builds the Economy? Democratic Presidents Do!

by Richard M. Mathews – I wrote recently about how Democratic presidents create many more jobs than do Republican presidents. What about the rest of the economy? I don’t want to talk down the economy as George W. Bush’s team did when he was running for president in 2000. They insisted that the economy was [...]

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