The Costs of War

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Vijay Prashad: The drain of wealth to the war economy is a massive regressive taxation on the population: the rich who pay a much smaller proportion of their taxes and the corporations are insulated from the costs of war, and indeed some of them benefit from the windfalls of war.

Ransom Paid

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Robert Reich: Anyone who characterizes the deal between the President, Democratic, and Republican leaders as a victory for the American people over partisanship understands neither economics nor politics.

Understanding ‘Debtageddon’ Tuesday

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Denis Campbell: Many economists predict a failure to act before Asia markets open Sunday or Monday night could see an immediate stock market loss of up to 5% and wipe out 10% of US GDP by Tuesday night. It’s that serious.

Don’t Fall for GOP “Budget Crisis” Lie

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Robert Reich: Republicans are using what would otherwise be a routine, legally technical vote to raise the debt limit as a means of holding the nation hostage to their own political goal of shrinking the size of the federal government.

Democracy Is Messy

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Ted Vaill: Every Member of Congress who voted against increasing the debt ceiling should be targeted for defeat in the 2012 election. If that is not successful in changing the makeup of Congress after 2012, I may follow the lead of my ancestor Pelatiah Everett, and begin a new revolution.

The Day the GOP Shot Ol’ America Down

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Ted Vaill: In less than a month, unless they relent in their effort to destroy the American (and the world) economy to curry favor with their Tea Party wing, the Republicans in Congress will cause the American government to default on its debt, on August 2, 2011 or thereabouts.

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