by Richard Eskow | Aug 2, 2011 | Blog, Economy
In the wake of a deal that included all the wrong things, today the President finally said all the right things. His agreement with the Republicans included no investment in economic growth, no job creation, no tax increases on the wealthy, no closing of corporate...
by Isaiah J. Poole | Aug 2, 2011 | Blog, Economy
Even Wall Street today rendered an unexpectedly brutal verdict on the passage of the deficit-reduction deal signed off on by President Obama and congressional leadership. Today, the Dow Jones Industrial Average fell more than 265 points, falling below 12,000. The...
by Robert Borosage | Aug 2, 2011 | Blog
The debt ceiling agreement passed by Congress today sets up a 12-person "super committee" with extraordinary powers and the mandate to locate $1.5 trillion in spending cuts and/or increased revenues for expedited vote by December. The Republican and...
by Dave Johnson | Aug 1, 2011 | Blog
The country has been held at gunpoint: a faction of the Congress, in service to a wealthy elite, were able to get away with threatening us, saying "give us everything we want or we will kill your economy." The other side, inured now to one-dollar-one-vote "market"...
by Richard Eskow | Aug 1, 2011 | Blog
Today we're watching the end of a brief manufactured crisis - and the beginning of a long national nightmare. The "debt ceiling" deal has been crafted so that "centrist" (i.e., right-wing) Democrats and Republicans can finally implement the draconian measures they...
