The Fed’s New Bubble (Masquerading as a Jobs Program)

economic collapse

Robert Reich: The latest jobs bill coming out of Washington isn’t really a bill at all. It’s the Fed’s attempt to keep long-term interest rates low by pumping even more money into the economy (“quantiative easing” in Fed-speak).

Our Incredible Shrinking Democracy

Democracy

Robert Reich: It seems as if more and more decisions that should be made democratically are being shunted off somewhere to a few people who make them in back rooms. Which programs should be cut, which entitlements pared back, and what taxes raised in order to reduce the long-term budget deficit? Hmmm. Let’s convene a commission and have them decide.

Obama’s Goal: Halving the Budget Deficit by 2012. Really?

economy-under-water

The President’s message on fiscal responsibility — that he’ll cut the current one by half by the end of his first term — is smart politics right now, but it may be dumb politics by November of 2012, and doesn’t make much economic sense regardless. We’re in a deepening recession, in case you hadn’t noticed. […]

Stimulus Plan: The Need and the Size

sinkingeconomy

The core problem we face is not access to capital. The Treasury has already flooded Wall Street and the banking system with money, committing nearly $350 billion; the Federal Reserve Board has exchanged Treasury bills for some $2.2 trillion of troubled assets; other agencies, such as the FDIC, have guaranteed trillions more. But there has […]

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