Adam Eran: The metaphors that frame the current Federal budget and debt ceiling debates are completely inaccurate, and if the media coverage is any indication, the public has swallowed them hook, line and sinker, too.
Robert Reich: Barack Obama is one of the most eloquent and intelligent people ever to grace the White House, which makes his failure to tell the story of our era all the more disappointing and puzzling.
Robert Reich: Standard & Poor’s insists any deal must also contain a credible, bipartisan plan to reduce the nation’s long-term budget deficit by $4 trillion — something neither Harry Reid’s nor John Boehner’s plans do.
Robert Reich: The only way out of the vicious economic cycle is for government to adopt an expansionary fiscal policy — spending more in the short term in order to make up for the shortfall in consumer demand.
Shamus Cooke: Listening to Congress debate deficit deduction is like listening to a den of lions discuss the welfare of zebras. In both cases the debate is very one-sided.
James Livingston: Why can’t the liberal Left answer the Right when budget deficits are the issue? Why are Democrats, Obama included, so eager to reduce spending on so-called entitlements?
Robert Reich: Our representatives in the nation’s capital continue to obsess about future budget deficits and games of chicken over raising the debt ceiling — neither of which has anything at all to do with the stalled recovery and the carnage on the Street.
Robert Reich: If the Democrats remain silent, the vacuum will be filled by the Republican snake oil of federal spending cuts and cut taxes on big corporations and the wealthy.
Robert Reich: The leaders of the Street and big business may now have to wake up to a reality they’ve tried to avoid — that the central economic problem of our time isn’t the long-term budget deficit but the immediate deficit in aggregate demand.
Ivan Eland: Deep down, both Republican and Democratic politicians believe something needs to be done about the monstrous and dangerous deficit and debt, but they are scared to do anything because, unfortunately, the American people want their government handouts but are unwilling to pay for them.
Robert Reich: Tea Partiers have almost as much contempt for big business and the Street as they do for government. After all, the Tea Party was born in anger over the Wall Street bailout. This is the heart of the civil war in the GOP.
Tina Dupuy: Republicans claim to be the arbiters of fiscal discipline, but their record says otherwise. The Ryan Plan, which passed the House, was like a cat burglar writing the charter for the neighborhood watch.
Robert Reich: The underlying problem isn’t the budget deficit. It’s that so much income and wealth are going to the top that most Americans don’t have the purchasing power to sustain a strong recovery.