Barack Obama

Peter Orszag's maiden voyage as a New York Times columnist resonates with twenty years of failed economic policy. It's a grab bag of Robert Rubin's Greatest Hits, remixed by a younger DJ for new audiences. It's all there: The mythologizing of the markets. more »

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A hedge fund manager's "investor letter" - really more of a staged, theatrical tantrum - has been getting a lot of attention lately. Daniel S. Loeb's diatribe demonstrates that banker greed is still out of control, and that it's as short-sighted and destructive as ever. The fact that Loeb is a registered Democrat and former Obama supporter doesn't matter as much as some people think. It's the same old story: Politics is just a means to an end, and the end in this case is self-enrichment.

If Loeb's pose as Hedge Fund Revolutionary seems like a ridiculous form of populism, remember: The Tea Party began with an angry outburst on the Chicago Board of Trade, from traders who were outraged that homeowners might be given a fraction of the aid bankers received. Loeb's letter is mostly a marketing ploy, but if he can become the Robespierre of the Hedge Fund Revolution I'm sure that would be fine with him too. more »

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Four prominent leaders of women's organizations held a conference call today, accompanied by Rep. Raul Grijalva, to demand the resignation of retired Sen. Alan Simpson as co-chair of the Deficit Commission. Their comments, together with a number of private conversations with women's leaders, indicate that Simpson and his Commission could be an even greater political liability among women voters than most observers initially suspected.

Women represent a key constituency in every election. In 2008 53% of all voters were women, 56% of whom voted for Barack Obama (as opposed to 49% of males). So any issue that alienates women - and the organizations that mobilize and lead them - can be an enormous political liability. Simpson, and the Commission itself, are looking more and more like just such a liability. more »

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Alan Simpson is the co-chair of President Obama's Deficit Commission, which is charged with creating a bipartisan consensus for balancing the budget. Lately Simpson's foulmouthed tirades have drawn at least as much attention as the Commission's actual work. His latest rant -- which includes denigrating an activist for women's issues with remarks about "a milk cow with 310 million tits" -- crosses the line once and for all. It demonstrates conclusively that he possesses neither the judgment, the ability, nor the emotional stability to carry out his mission. He's become an embarrassment to the President and an impediment to his Commission's objectives. He must resign immediately. If he's unwilling to do so, the President must fire him. more »

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The Republican Party's attempt to privatize Social Security under George W. Bush was wildly unpopular. At least one Republican Congressional candidate is openly calling for Social Security cuts, and Rep. Paul Ryan's widely-publicized "Roadmap for the Future" includes both privatization and benefit cuts. With all these GOP threats to a popular program, why do polls show that the Democratic Party's advantage on this issue has collapsed?

Here's one reason: Voters want to know that their leaders won't cut Social Security benefits, and not enough Democrats have promised they won't. Some, including the President, are avoiding the issue or changing the subject. Democrats clearly think that Social Security is a winning issue for them, but polls suggest that voters aren't likely to be swayed by declarations that oppose privatization but are vague on benefits. more »

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Picture this: You're lying in the dark with a broken leg. Somebody comes by every couple of days to give you water and a little food, but you're wasting away. Suddenly a figure appears holding a candle. In the flickering light we see Tim Geithner's face. "Hey, there!" He says. "Do you realize that if we hadn't acted so promptly, both of your legs would be broken? Good news, huh? more »

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Mort Zuckerman's recent opinion piece in the Financial Times, "Obama needs to stop baiting business," is a tawdry, sorry spectacle. Paul Krugman's already explained how Zuckerman, the publisher of US News & World Report and the New York Daily News, distorted the President's words with a little Andrew Breitbart-style editing. While Zuckerman's proclivity for truth-twisting isn't a complete surprise, here's what is: If he's not lying about how he and his fellow CEOs are managing their businesses, then he and his friends are also incompetent executives.

In fairness to Zuckerman, let me be clear from the outset: I don't think he's an incompetent executive. more »

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Yesterday I co-hosted The Young Turks with Cenk Uygur. Our first interview was with Howard Dean, in a wide-ranging conversation that covered his continued enthusiasm for Barack Obama (but not some of his advisors), Democratic malaise, and the race-baiting he has observed at Fox News.

At 7 minutes and 50 seconds I tried to draw him out about Social Security and the Deficit Commission. more »

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The "teachable moment" cliché may be overused, as Jason Linkins observed the other day, but what the White House really needed this week was a learnable moment. The Administration and other leading Democrats had an opportunity this week to understand the nature of the opposition they face. The President's remarks about Shirley Sherrod's firing suggest that this "learnable moment" may have been lost. Let's hope not. more »

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This week's big story is that a faker scammed the media, trashing an innocent USDA employee's career in order to push a false right-wing narrative. But another scam's underway too, and it's targeting Social Security and other entitlement programs. As Republicans (and at least one Democrat) pushed budget-busting tax cuts, the "bipartisan" leaders of the Deficit Commission showed their true colors as extremists who peddle panic and hold "hearings" despite having their minds already made up. One of them said that the Federal debt is a "cancer," adding that you "can't tax your way out of it" - and that was the Democrat! Meanwhile the Republican complained that November's elections will be "disruptive," creating "wreckage" that will interfere with their plans.

When you think about it, Shirley Sherrod and the the Social Security system have a lot more in common than their initials. more »

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