Barack Obama

The world's been turned upside down by the Supreme Court hearings on the individual insurance mandate. Left is right, right is wrong, and the future is uncertain. There are only two approaches to health care that we know are constitutional: a European-style 'socialized medicine' system, or the old system of uninsured people dying in the streets.

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Here we go again. Once again the 'bipartisan' consensus in Washington, fueled by an intoxicating brew of conventional wisdom laced with campaign cash, has repealed some of those 'cumbersome regulations' that do nothing of value - nothing, that is, except prevent catastrophes. There will be celebrating on both sides of the aisle when the President signs this bill. more »

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Perhaps my reaction to the latest unemployment statistics is colored by the fact that I'm reading them in Africa, far from the comfortable familiarity of Washington, New York, and California. There's nothing like the songs of unfamiliar birds as the sun rises over the hills of Pretoria to accentuate the strangeness of conventional Beltway wisdom. more »

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Remember the fear in 2008? Think of the collapse of Bear Stearns and Lehman Brothers. Wall Street melting down. Pension savings disappearing. Housing values plunging and foreclosures skyrocketing. Three million workers losing their jobs.

It had all the makings of another Great Depression. As Barack Obama took office on Jan. 20, 2009, he faced a dilemma. more »

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There’s just something about manufacturing. more »

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Today the Western world is divided between two visions of our economic future. One vision is of austerity and the other is of growth. One is of hope and possibility, the other of despair and cynicism. The battle between these two visions has divided the United States and the entire Western world.

And both of them can be found in in President Obama latest budget.

It's almost as if the President decided that if the Republicans can't provide him with a challenger worthy of this debate, he'll conduct it with himself.

Double Vision

In one vision, the excesses and errors of the 1 percent have left the Western world too broke to fulfill its social contract with anyone but the wealthiest among us. Middle class and lower-income citizens must be abandoned to face a future of ever-dwindling resources. Government's only permissible spending is on wasteful military systems that enrich wealthy contractors and their corporations.

In the other vision, government retains its role as an engine of growth and change. It's wise enough to invest in long-term expansion before pivoting to address its deficit problems. It manages its budget, not "like a family," but like a business - one that understands that well-timed investment is the key to continued growth and prosperity, In today's world, that means investing in jobs, research, education, health, and infrastructure.

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Once again we're hearing that a foreclosure fraud deal is about to be announced between major banks, the US government, and most or all of the states. We've heard that before, only to have the deadline pushed back so that holdout Attorneys General can be brought on board with the agreement.

Deal, or no deal? We're not sure, but it's certainly possible we'll hear something today, tonight, or tomorrow.

How will we know if it's a good deal for the American people? After all, this is an issue with a lot of moving parts. It includes all of the states and multiple agencies within the Federal government, and involves a multitude of allegations involving several different kinds of crime that come under different jurisdictions. Even the statutes of limitations are a moving target.

That doesn't mean we don't know enough to judge the deal, if and when it's announced. There are well-established facts to guide us, and the principles involved are clear. more »

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The reaction to January's jobs report shows how tragically our expectations have fallen, especially among some Democrats and their supporters. Their cheerleading isn't just bad policy or bad politics, although it is both of those things. It's also callous and insensitive to the misery of millions.

It's important to keep explaining what needs to be done to end that misery. To do otherwise is to serve, however unintentionally, an insidious agenda from the right that would lower our expectations until these tragic levels of unemployment are seen as the "new normal."

An increase in jobs is a good thing, of course, even if it's far from what's needed. Here's something else that was good about the report: Conservatives keep telling us that manufacturing jobs have moved offshore permanently, but 50,000 of them were created last month. Now we can put that argument to bed and can get to work creating more of them. more »

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This is the audio clip of an interview I did for The Breakdown this weekend with journalist and author Michael Hudson, who did a terrific piece on GE Capital's mortgage crisis called more »

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Like a lot of former Obama voters, I've had my issues with the President. Sure, it helped when he sang that Al Green song at the Apollo Theater last week. (Good job, Mr. President! Good pitch and an appropriately understated delivery.)

But in a time of uncertainty people are looking for certitude. In a time of great battles people are looking for strength. They don't just need to hear the words when they listen to their leaders. They need to feel the music.

The State of the Union Address is scheduled for this Tuesday night. The President can go a lot further toward winning over voters who are disappointed, doubtful, or just unenthusiastic, if he chooses an issue that's vitally important to them and offers a clear, strong and unequivocal defense.

Social Security is the ideal issue. It's one of many, according to polls, where both parties are out of step with voters. After seeing their savings, pension plans, and housing values destroyed, people are frightened about their retirement security. They don't hear anybody in Washington offering to protect their benefits.

And to borrow a phrase from Rev. Al, they're tired of being alone. more »

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