Robert Reich: Too many Democrats inside and outside the Beltway have ingested the deficit cool-aide that the “serious people” on Wall Street have serving for two decades.
Robert Reich: Friday’s jobs report shows an economy that’s still moving in the right direction but way too slowly, which is why Washington’s continuing obsession with the federal budget deficit is insane. Jobs and growth must come first.
Robert Reich: I wish President Obama and the Democrats would explain to the nation that the federal budget deficit isn’t the nation’s major economic problem and deficit reduction shouldn’t be our major goal.
Robert Reich: I hope the President starts negotiations over a “grand bargain” for deficit reduction by aiming high. After all, he won the election.
Robert Reich: Democrats want a deal that raises taxes only on America’s wealthy and doesn’t substantially alter Medicare, and Social Security — which is the opposite of what Republicans want.
Brent Budowsky: MDemocrats are attuned to the tectonic plate of American politics in 2012. Rightist- dominated Republicans, who have offended too many voters on too many issues and demonized even moderates in their own party, are at war with it.
Carl Bloice: The words of a party’s platform and the declarations of its candidate don’t mean much in the real world of political wheeling and dealing.
Randy Shaw: Europe’s lesson is that Obama should far more aggressively promote public investment, job creation, and other economically populist – and popular – measures.
Robert Reich: The Romney-Ryan plan, by the way, is the most radical reverse-Robin Hood proposal propounded by any political party in modern America.
Carl Bloice: Several Democrats said during the day that the presentation had the support of a majority of the six Democrats on the panel, leaving the impression that at least one, and possibly two, of the party’s lawmakers had not signed on — possibly Becerra and Clyburn.
Randy Shaw: If President Obama and fellow Democrats agree to a deficit reduction deal that cuts Medicare, Social Security, and other programs serving the 99%, expect an electoral calamity for Democrats in 2012.
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.
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.