Robert Reich: Republicans have become the U.S. party of Angela Merkel, demanding and getting spending cuts at the worst possible time – and ignoring the economic and social consequences.
Denis Campbell: Welcome to Herbert Hooverville, global financial chaos edition where the US and UK governments think the way to change the situation is to… carry on and do nothing differently.
Robert Reich: Now that we’re slouching toward a double-dip recession, the only hope is voters will tell their members of Congress to stop obsessing about future budget deficits and get to work on the real crisis of unemployment, falling wages, and no growth.
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.
David Love: Obama can solve this whole thing tomorrow if he just calls for a new New Deal program already. But will he have the courage? Time will tell, but the President, like this sad nation, is short on time.
Robert Reich: In the past I’ve often wondered whether they’re knaves or fools. Now I’m sure. Republicans wouldn’t mind a double-dip recession between now and Election Day 2012.
Robert Reich: Both Greenspan and Rubin are deficit hawks. So was Herbert Hoover and so was Hoover’s Treasury Secretary Andrew Mellon. And look what Hoover and Mellon got us into. When we least need him, Hoover is being exhumed.
Robert Reich: The President should stop talking and acting on anything else – not the deficit, not energy, not the environment, not immigration, not implementing the health care law, not education. He should make the whole upcoming mid-term election a national referendum on putting Americans back to work, and his jobs bill. Are you for it or against it?
Robert Reich: Say you’re a high government official with some responsibility for advising the President on what he should be doing and saying about the economy. You know the economy is still in a deep hole, the deepest since the Great Depression.
Robert Reich: Obama has no ass to kick until he’s in charge. Obama should take over BP’s rescue operation. That’s the only way the public can be sure all necessary resources are being put to the job, that public risks are being properly weighed, and it’s getting the truth.
Articles by Norman Solomon, Sherwood Ross, Michaelangelo Price, Tina Dupuy, Tim Gatto, Georgianne Nienaber, Robert Illes, Lawrence Wittner, Seth Hoy, Ivan Eland, Shamus Cooke, Robert Reich, Linda Milazzo, Tom Degan, Ivan Eland, William Lambers, Michael Sigman, Anthony Samad, Michael Sigman, Jim Fuller, Andrea Nill
Robert Reich: The only reason the economy isn’t in a double-dip recession already is because of three temporary boosts: the federal stimulus (of which 75 percent has been spent), near-zero interest rates (which can’t continue much longer without igniting speculative bubbles), and replacements (consumers have had to replace worn-out cars and appliances, and businesses had to replace worn-down inventories). Oh, and, yes, all those Census workers (who will be out on their ears in a month or so).
David Barber: What I do know is that while “social psychology” may have had some small role as a causal factor in the Crash of ’08, it was the actual structure of the American and world economies which brought on the crisis. And if in fact we enter a second round of this Crash, it will not stem from what Dr. Shiller calls a “weakness and vulnerability of confidence,” but will result from the same structural elements of our economy as those that brought on the “first dip.”