Under “Stimulus Now, Austerity Later” Plans, We’d Already Be in Austerity

By: Wednesday October 31, 2012 6:22 am

The Committee for a Responsible Federal Budget, a Pete Peterson-funded front group associated with the Fix the Debt campaign, basically the biggest deficit scolds out there, wrote this piecetrying to differentiate their thirst for austerity from the fiscal cliff, which is an austerity package in and of itself. They claim that it’s important to “go [...]

The Very Interesting Eric Cantor Power Point on Bowles-Simpson

By: Friday October 26, 2012 12:41 pm

House Majority Leader Eric Cantor has created a Power Point presentation about Bowles-Simpson, the recommendations of the two leaders of the deficit commission. And this offers a window into Tea Party preferences for the fiscal slope and deficit deals. This is actually the key swing bloc in Congress; with President Obama on board with a [...]

Obama Sketches Out Grand Bargain, As He Has Multiple Times

By: Wednesday October 24, 2012 11:41 am

I really didn’t see much new in President Obama’s off-the-record, on-the-record interview with the Des Moines Register, certainly nothing that demands to be hidden from public view. It mostly contained a restating of arguments that have played out over endless stump speeches, debates and TV ads. People are trying to treat Obama’s two major 2013 [...]

The Machine to Cut the Safety Net Gets Started

By: Thursday October 4, 2012 9:28 am

Charlie Pierce’s big line about the debate mirrored my thoughts about how the discourse has been so narrowed by a combination of DC establishment insulation from the actual problems of ordinary Americans, and Democrats becoming the face of New Austerity: What you saw, I think, anyway, was the end product of the president’s consuming naivete [...]

We’ve Already Cut Spending By Almost All of the Bowles-Simpson Targets

By: Wednesday October 3, 2012 8:27 am

Jared Bernstein of the Center on Budget and Policy Priorities has an important piece that reinforces something I’ve been saying for a long time. Contrary to the opinion of Michael Grunwald that there has been no austerity in Obama’s first term, Bernstein lays out the numbers that actually shows the austerity, in both the short- [...]

Krugman, Five Weeks Before Election, Works to Discredit Bowles-Simpson

By: Monday October 1, 2012 6:18 am

The election is 36 days away, and most of the media are churning out their profiles of undecided voters in Ohio and polling snapshots. Only Paul Krugman has broken the illusion, moved past the election and its expected outcome, and focused on the expected policy prescription that lies ahead, the desire of most of official Washington to slash the budget along the lines of a proposal that gets far more credit than it deserves. Krugman, a voice outside Washington, has no problem explaining to everyone that the Bowles-Simpson plan actually stinks.

Deficit Spending in a Recession is Responsible

By: Wednesday September 5, 2012 7:35 am

Above is an ad put together by Republicans to commemorate the reaching of $16 trillion in overall debt, a figure that’s supposed to frighten the public. It very skillfully uses President Obama’s debt trolling against him, including his invocation of debt being “irresponsible” and his worry about “lack of confidence” wrecking the economy if the [...]

Erskine Bowles-to-Treasury Rumor Picks Up Steam

By: Friday August 10, 2012 12:34 pm

Jon Walker was basically right about Erskine Bowles’ op-ed in the Washington Post today, criticizing Mitt Romney’s tax plan. Romney has been trying to associate his plan with Bowles-Simpson when the two have little in common. But I was more distressed last night by the fact that Obama campaign bigwig Stephanie Cutter approvingly tweeted out [...]

Truth Leaks Out: Austerity Hurting US Economy

By: Monday July 30, 2012 6:55 am

We’ve been having two parallel debates in this country, one informed by rich people who want to steal American retirement security so they don’t have to pay taxes on it. That side of the debate is exemplified well by Bill Keller this morning – unfortunately this op-ed is not a joke. Keller’s is the thinking [...]

Geithner: Get Ready for Bowles-Simpson

By: Friday June 15, 2012 8:19 am

Treasury Secretary Timothy Geithner spoke in front of the Council on Foreign Relations Wednesday, and he gave what amounts to an endorsement of the Bowles-Simpson deficit reduction plan. Addressing the Council on Foreign Relations Wednesday afternoon, Treasury Secretary Timothy Geithner said that the debate about the path to fiscal responsibility “really began with Bowles-Simpson and [...]

Honeywell CEO, Presidential Appointee to Catfood Commission Cote: Eliminate Corporate Taxes

By: Friday June 1, 2012 9:04 am

Honeywell CEO David Cote said yesterday – when his goons weren’t yanking the microphone away from a labor reporter asking a question – that the ideal corporate tax rate should be zero percent: SORKIN: David, I have a tax question for you. What do you think the ultimate effective tax rate should be on corporations? [...]

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