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.
Robert Reich: President Obama laid out the problem correctly and effectively. He explained why jobs and growth must be the nation’s first priority now — not the federal deficit.
Joseph Palermo: President Obama’s much anticipated speech outlining his jobs agenda for the 2012 election year will sound a lot like a tiny mouse trying to make a loud roar. Instead of clarity, we’ll get hedging; instead of “bold,” we’ll get wishy-washy.
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.
Brent Budowsky: Let’s add a “repatriate prosperity” provision that would require participating global companies to increase the size of their American workforce by a designated amount, within a designated window, such as six months, in order to receive the tax holiday.
Robert Reich: An extraordinary number of Americans are still hurting. It’s more important than ever for the US government to step in with a larger stimulus that puts more people to work and tax cuts for people who will spend them
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?
Andrea Christina Nill: despite his concerns relating to foreign workers, Grassley has already asserted that he isn’t interested in working towards a productive solution that involves even touching a “general immigration reform bill” with a ten-foot pole.
But the reality that no one wants to talk about is a structural change in the economy that’s been going on for years but which the Great Recession has dramatically accelerated.
It would be hard to get a new stimulus package through Congress, but no member who’s up for reelection next year when unemployment is likely to be in double digits wants to be accused by rivals of voting against steps to help small businesses, public schools, childrens’ health, and average working people who need a tax cut.