Congress Jamming $607 Billion Defense Bill Through Before Christmas

By: Tuesday December 10, 2013 6:15 am

It’s that time of year again, when important bills are quickly rushed through Congress and people are told there is no time to think about it. So it was yesterday that the final version of the Defense Bill was unveiled with backers telling everyone there is no time to debate. The House and Senate Armed [...]

Extended Unemployment Benefits End January 1

By: Tuesday December 3, 2013 6:00 am

Lost in the drama in DC is that many of the programs being cut or eliminated affect real people. One such program is extended unemployment benefits for the long term unemployed. While Wall Street has rebounded the economy for the 99% remains depressed and stagnant. Extended unemployment is all that is keeping some families from [...]

Shutdown Ends, Debt Ceiling Raised, For Now

By: Thursday October 17, 2013 5:44 am

After wasting everyone’s time and money for 16 days, Speaker Boehner and the House Republicans caved in and reopened the government and raised the debt ceiling. Now we return to the brutal austerity of the Budget Control Act of 2010, in losing the Republicans have won. Although part of the deal to reopen the government [...]

Guantanamo Bay Costs U.S. Taxpayers $1.2 Million Per Day

By: Tuesday July 30, 2013 5:58 am

Remember that illegal prison camp President Obama campaigned on closing, twice? Well not only is it an embarrassment and insult to the rule of law but it’s costing American taxpayers over a million dollars a day. Democratic lawmakers pushing to close the detention center at Guantanamo Bay said on Wednesday its cost has skyrocketed to [...]

Congressional Democrats Pushing Back Against Obama’s Austerity Budget

By: Tuesday April 30, 2013 5:48 am

As the latest reports indicate that the U.S. economy is slowing down and the intellectual foundation for austerity economics has been discredited, Congressional Democrats are pushing back against President Obama’s austerity budget. Democrats in the Senate and even more in the House no longer see the logic in austerity cuts to social programs such as [...]

Fallout Continues From Discovery Of Major Flaws In Key Austerity Paper

By: Friday April 26, 2013 8:28 am

Academia remains incredulous as evidence accumulates that the Reinhart-Rogoff paper that underwrote much of the intellectual justification for austerity economics omitted important data and contained severe Excel errors. Some are calling it a technical knockout of austerity economics, handing victory to the anti-austerity faction of economists. Economic debates rarely end with a T.K.O. But the [...]

Austerity Economics Takes A Major Blow As Key Research Paper Discredited

By: Friday April 19, 2013 8:06 am

A paper by Kenneth Rogoff and Carmen Reinhart entitled Growth In A Time Of Debt became the intellectual backbone for the austerity movement/plutocrats and their apparatchiks in Washington and elsewhere. Now a graduate student has discovered a major excel error in Rogoff and Reinhart’s research which skewed the data to support their thesis and found that when that error was corrected their data actually supported the contrary view.

2.3 Million Strong Petition Opposing Obama Budget Dropped Off At White House

By: Wednesday April 10, 2013 5:59 am

The revolt has begun. Yesterday a petition with 2.3 million signatures opposing the Obama Budget’s cuts to social insurance programs was dropped off at the White House. A rally was also held representing a coalition of interest groups committed to opposing the cuts as a Democratic President pressed on with his plans to attack the [...]

Speaker Boehner Admits ‘We Do Not Have An Immediate Debt Crisis’

By: Monday March 18, 2013 5:59 am

Speaker John Boehner might want to take a word of advice from Speaker John Boehner because according to him there is no immediate crisis. In an interview with ABC News Speaker Boehner admitted that, contrary to much of his and his party’s rhetoric, there actually is not a debt crisis. Martha Raddatz: Is [President Obama] [...]

As Austerity Begins Wealth Inequality Shines Through As Poor Are Targeted

By: Monday March 4, 2013 7:29 am

Last Friday President Obama signed the sequester order officially launching America’s latest austerity program. Austerity has yet to produce jobs or growth in any country it has been tried in. In fact, austerity is becoming one of the few certainties within economic policy making – the certainty of losing growth if the policy is adopted. [...]

Sequester May Not Be Resolved Until April

By: Thursday February 28, 2013 7:00 am

Tomorrow budget sequestration begins. The “unthinkable” gun-put-to-head law that Congress passed to force itself to compromise has, not surprisingly, not led to compromise. Instead it has led to the gun going off and now a weak American economy will face austerity cuts, a program that has led to further weakness in every economy it has [...]

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