Shamus Cooke: Hefty splits in the labor movement have already emerged on whether to support Obama’s reelection, based on his complete lack of action on creating jobs combined with his false promises in the 2008 election.
Robert Reich: Chalk up a big part of Europe’s slowdown to the politics and economics of austerity. Europe – including Britain – have turned John Maynard Keynes on his head. They’ve been cutting public spending just when they should be spending more to counteract slowing private spending.
Ivan Eland: The good news is that if the committee can’t reach an agreement on the fiscal changes, or if Congress rejects its work, defense (including homeland security) and domestic programs have to take equal cuts.
Mark Naison: It behooves us, as progressive organizers and justice fighters, to keep the lines of communication open to people in these organizations, and be there to work with them if they join us in resistance to policies that concentrate economic sacrifice amongst America’s poor.
Carl Bloice: If the people who set the Tea Party in motion and sustain it want a mandatory “balanced budget” there is a democratic way of going about getting one; introduce specific legislation. They wouldn’t take that route.
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.
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.
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.
Ann Robertson and Bill Leumer: As a first step, organized labor should organize massive demonstrations in major cities across the country on Labor Day to raise these demands. Working people strongly oppose these cuts and desperately want job-creation programs.
Ian Goldin: In Arizona and elsewhere the smouldering debate over migration policy has generated more heat than light, risking progress on the stuttering but overdue reform agenda.
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.
Shamus Cooke: Because both parties simply threw money at the banks and hedge funds instead of punishing them, a condition of “moral hazard” was created, meaning, that banks would assume another bailout would come their way if they destroyed the economy again — too big too fail, remember?