Obamas Deficit Frankenstein

The Presidential Deficit Commission has issued its report — sort of — and the president has a problem. Like Dr. Frankenstein in the Mary Shelley novel, he built a creature […]
Richard Eskow

Health Care Reform Is Deficit Reduction Remember That

When health care reform was signed into law, President Barack Obama correctly described it as “biggest deficit reduction plan since the 1990s.” In fact, the Congressional Budget Office projected it […]
Bill Scher

Korea Free Trade Agreement Another NAFTA

There are reports that the Korea Free Trade Agreement is nearly concluded. Unfortunately the problems with the labor portions of the Bush-negotiated agreement were not addressed, which means we might […]

DC Elites Pushing Korea Trade Pact

The way a lobbyist argues for or against anything today is to say it will create or cost jobs. Prohibiting lawsuits against giant corporations that harm people creates jobs. Making […]

Bipartisan Blight The Great Tax Reform Mirage

David Brooks is always a good marker of establishment conventional wisdom. Today, in a column grandly entitled, “A Tax Reform Vision,” Brooks celebrates the growing beltway consensus on tax reform, […]
Robert Borosage

The Fed Lied About Wall Street

The data from the Federal Reserve audit is full of frightening revelations about U.S. economic policy and those who implement it. When Wall Street went off the rails in the […]
Zach Carter

The Income Gap Will Grow

In general, macroeconomic policies cut two ways on inequality — one via effects on economic activity, which if favorable, can reduce inequality by creating more jobs and raising wages, and […]

99 And Counting Tales From the Un-Funny Papers

Let’s face it. Nothing about the economic crisis is funny. Nothing about America’s 9% unemployment rate, 14.8 million unemployed, or 6.2 million long-term employed is funny. And there’s nothing mildly […]
Terrance Heath

Obama Faces Great Deficit Divide

The following was originally published at Politico. "The era of deficit denial is over," crowed former Sen. Alan Simpson, the garrulous co-chair of President Barack Obama’s deficit reduction commission. But […]
Robert Borosage

Ben Bernankes Secret Global Bank

Thanks to tremendous public pressure and the recently passed Wall Street reform bill, the U.S. Federal Reserve was forced to reveal the details of its emergency bailout of the financial […]
Mary Bottari

Political Corruption GOP Embraces the Ken Lay Way

The GOP has adopted the Ken Lay principles – that is obfuscation, false statements and feigned innocence. Republicans are obfuscating about the real reason for their opposition to extending unemployment […]
Leo Gerard

Alan Simpson Plays Lucy Holding the Football

We all despair of the chump Charlie Brown. Each fall Lucy promises to hold the football. Charlie trusts her. And –bam — she pulls it away at the last moment […]
Robert Borosage

Robert Reich Gets It Tell the Right Story

Robert Reich pleads with Democrats, and President Obama to give Americans a clear explanation about why the economy stinks. He gets it right. The newly liberated leadership of the Democrats […]
Robert Borosage

Fed Audit– Liveblog on Data Dig

Just starting to parse through the Fed audit data. Looks like the Primary Dealer Credit Facility is predominantly a bailout for Citigroup and Bank of America. More to come . […]
Zach Carter

Do Tax Cuts Help The Economy

In the news: Congress debates extending an extra tax cut for the rich, Obama’s “deficit commission” proposes tax cuts to cut the deficit. Both of these assume tax cuts help […]

Citizens Commission The Real Issue Is Jobs

Members of the Citizens’ Commission on Jobs, Deficits and America’s Economic Future formally released their report earlier today with a declaration that the commission created by the White House to […]
Isaiah J. Poole

Here Come the High Rollers

While the Dodd-Frank Wall Street reform bill did too little to address the problem of “too big to fail” banks, one of the big wins for reformers was the bill’s […]
Mary Bottari

Yes Megan Bankers Break The Law

I frequently disagree with Megan McArdle, but her WikiLeaks post yesterday on struck me as simply delusional. The basic argument: megabank financiers haven’t committed any crimes, because if they had, […]
Zach Carter

America Speaks Will Washington Listen

"America has spoken." It’s a phrase we’ve heard from the right after every election — special election, run-off or midterm — following the 2008 election in which voters sent Barack […]
Terrance Heath

GAO Bank Regulators Not Even Looking At Foreclosure Practices

A rather nauseating statement from a Government Accountability Office report on foreclosures: Because they generally focus on the areas with greatest risk to the institutions they supervise, federal banking regulators […]
Zach Carter

Will The Fed Withdraw Its Foreclosure Predator Bailout

Yesterday, The New York Times ran an editorial opposing a new Federal Reserve proposal to eliminate predatory lending penalties. The rule under consideration is the same obscure regulation I blogged […]
Zach Carter

Austeritys Epic Fail

It hasn’t even been a year since the Heritage Foundation placed Ireland among the top ten countries on its Economic Freedom Index. I wasn’t intending to write about Ireland at […]
Terrance Heath

Those Other Pat-Downs

As a frequent traveler, I can understand the outrage over new TSA security procedures. A “choice” between an ultra-revealing body scan, a scandalously intrusive pat-down, or not traveling by air, […]
Alan Jenkins

Dare Call It Sabotage

Are they there to govern, of just destroy? As Washington works through its “lame duck” session and prepares for next year’s new Congress, there are signs that the government-haters are […]

A Potential Breakthrough on CEO Pay Excess

Over across the Atlantic, reformers have begun a year-long probe that has the fire-power — and credibility — needed to challenge the sacred cows of the global executive compensation status […]
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