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.
Brent Budowsky: Let’s challenge the speculative fever and vulture frenzy that threatens the Morning in America that is coming. The president should initiate a drawdown of the Strategic Petroleum Reserve, if necessary twice, to burn the fear of God into the soul of speculators.
Brent Budowsky: Whether the 2012 champion of patriotic capitalism against crony capitalism is Ron Paul, Jon Huntsman, Obama or someone else, that candidate will win a standing ovation from a grateful nation rebelling against corruption, whether that leader is Democratic, Republican or Independent.
John Peeler: Disillusioned liberals ought to know that if this effort takes off, it is very likely to siphon votes away from Obama and facilitate a complete Republican takeover of the federal government.
Steven Hill: So when the authorities say “a recovery is under way” or “stimulus rather than deficit reduction” or “deficit reduction instead of stimulus,” remember: These are the same experts who are unsure of how to measure, who too often substitute ideology and partisanship for broken theory, and usually have been flat wrong in their assessments.
The only item worth looking at is the part of the report that predicts the government will have nearly a $1.6 trillion deficit in the fiscal year that ends this September 30 — but not because that number is alarmingly large. It strikes me as alarmingly small.
It’s the kind of thing I expect to hear from deficit hawks and chicken littles — from the self-described “fiscally responsible” right, from the scolds Ross Perot and Pete Peterson, from my former cabinet colleague Bob Rubin. But yesterday I was shown slides developed by the putatively liberal Center for American Progress intended to make […]