Peter Dreier: Peterson’s Fix the Debt agenda would simply exacerbate the recent trends of widening inequality and declining living standards for most Americans, a chasm we haven’t seen since the Gilded Age of the late 1800s. This so-called “solution” is bad for the economy and bad for the country.
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 [...]
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 [...]