Randy Shaw: Tax Day has passed with little attention to the chief reason U.S. students are overwhelmed by debt, millions are homeless, children go to bed hungry and our public transit infrastructure is being destroyed — the allocation of half of every discretionary dollar to the military.
Joeseph Palermo: President Obama and the Democrats’ willingness to accept cuts to Social Security in the form of the gimmicky “chained CPI” right after an election where no candidate for federal office campaigned on it shows that the Right’s long-term project of undoing the New Deal marches on despite the electorate’s wishes.
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.
Brent Budowsky: The extreme hard-line attitude of many Republicans has significantly raised the prospects for a national default and rating agency downgrades that would sweep across the nation and many states, causing an economic cataclysm and public outrage unlike anything ever seen in the history of the republic.
It’s no accident that as Congress returns this week from its two-week recess and begins debate on the $3.5 trillion budget plans for the fiscal year starting in October — which may or may not include a provision that fast-tracks Obama’s health care proposal by allowing it to pass the Senate with a mere majority [...]