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 [...]

New York Times Labels Pete Peterson Group ‘Center-Left’

By: Thursday April 4, 2013 6:01 am

There are many explanations for why America is more right-wing than other countries in the developed world; an individualistic and unsympathetic political culture, the use of religion for reactionary causes, racial antagonism and division in the working class, a governmental structure designed to defend a commercial oligarchy – take your pick. But just because the [...]

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- [...]

The Pete Peterson Fiscal Summit and What It Says About Democrats

By: Wednesday May 16, 2012 1:03 pm

Before I get to Ezra Klein’s review of the Pete Peterson Fiscal Summit, let’s marvel for a second at just how much influence Peterson has, that he can get pretty much everyone in Washington to kiss the hem of his garment. Former President Bill Clinton, House Speaker John Boehner, Treasury Secretary Tim Geithner, and what [...]

Pivoting Off the Pivot: Deficit Agenda Poised to Re-Enter Debate

By: Friday September 9, 2011 2:12 pm

The fact that Pete Peterson endorsed the American Jobs Act, and that he did so with a focus on an element not actually in the American Jobs Act, is pretty revealing. President Obama rightly called for the ‘super-committee’ to go beyond its $1.5 trillion goal and find even more long-term deficit reduction. The President made [...]

Pete Peterson’s Purchase of Cat Food Commission, Media Pays Off

By: Thursday November 11, 2010 9:48 am

I wanted to highlight something about the Cat Food Commission to permanently shrink government, something we’ve all known about, but which hasn’t been laid out in specific detail in a while. This Presidential commission has been borrowing paid staffers from groups that are ideologically committed to destroying the social safety net in America. This hasn’t [...]

Pete Peterson’s Long Game Culminates with Month-Long Austerity Push

By: Tuesday November 9, 2010 1:37 pm

Rally – HD from Peterson Foundation on Vimeo. Wall Street billionaire Pete Peterson is making his move. Today in front of a Washington-centric audience at the Newseum, and flanked by deficit peacocks Kent Conrad and Evan Bayh, he launched OweNo (my sentiments exactly), a $20 million dollar ad campaign designed to “start a discussion” about [...]

Poll: Relentless Demonization and Propaganda Works

By: Tuesday July 20, 2010 7:25 am

Since I was old enough to remember, I can recall stories in the media and chatter among acquaintances that Social Security would not be there when I got old. It was pervasive and pernicious. I didn’t know at the time that it was generously financed. But it certainly explains this poll. Even though Social Security [...]

If Lawmakers Cut Social Security, and Nobody Is There to Hear It…

By: Saturday July 10, 2010 2:45 pm

Every year, usually around March 31, the Social Security trustees give an update on the stability of the program, as well as Medicare and Medicaid. This report has typically been closely watched to assess not only the actuarial imbalance of the programs, or the dates at which the programs would be unable to pay out [...]

Political Scientists: America Speaks Materials, Selection Process “Unreliable”

By: Monday June 28, 2010 7:48 am

Northwestern University Political scientists Benjamin Page and Lawrence Jacobs have written a paper arguing that the deliberative forums put together this week by America Speaks were “unreliable” measures of public opinion, and that the public has already made itself clear on these matters, opposing benefit cuts to Social Security and preferring lifting the cap on [...]

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