Rationalization and Obligation, Part VI: What the President Ought to Do, What He Probably Will Do

By: Wednesday October 16, 2013 4:25 pm

If the President is obligated to obey the 14th amendment, then he should be doing whatever he can to use the other options to end the debt ceiling crisis. He should not be playing chicken with the Republicans over the debt ceiling and the shutdown. Both are dangerous to the economy, and there is a real risk of default in allowing the Treasury’s daily available balance to fall to the level it will be at as of October 17th.

 

Stop “the Great Betrayal”: Kabuki Update

By: Saturday October 5, 2013 7:52 am

It now looks like the big media and leaders in both parties are no longer focusing on the Government Shutdown crisis, but are now moving on to the notion that the shutdown is melding with the upcoming probable breaching of the debt limit to create a combined mother of all fiscal crises. Along with this, the media and many politicians, encouraged by the President’s standing “strong, strong, strong,” are now directing attention away from whether ObamaCare will be delayed or compromised, to other types of ransom the Administration might pay in return for both re-opening the Government and also providing an increase of an undetermined amount in the debt limit.

What can austerity do for you?

By: Tuesday September 24, 2013 1:30 am

Short-term planning wins again.

Admitting the Skills Gap Is a Myth

By: Thursday September 5, 2013 5:00 pm

I start from the assumption that reasonable investments in science, technology, engineering, and mathematics (STEM) can contribute to good STEM jobs as well as good jobs and good quality of life throughout the country.  The path is not perfect, but “making stuff” from growing food to improving hospital gurneys is a pillar of our economy and our society.  “Making stuff” is a better enterprise for society than pushing paper through creative banking.

Declaring the Grand Bargain Dead Is Premature

By: Sunday September 1, 2013 9:00 am

Stories in The Washington Post and the New York Times have some in the blogosphere proclaiming that it’s time to celebrate the death of the Grand Bargain, and others at least raising a question about its death. I’ll go on record as saying that celebrating its death is definitely premature.

Late Night: Tea and Crumpets

By: Thursday August 29, 2013 8:00 pm

Despite the weeks of hysterical caterwauling in the US media, we are, for the moment, not going to war in Syria in time for the Labor Day weekend. The fact that the general public was almost universally opposed was really no impediment; after all, bipartisan consensus has long held that public opinion can always be brought along to support a war, any war, once the bombs start falling.

Jack Lew: Avoiding Default Is Your Responsibility Too

By: Thursday August 29, 2013 7:00 pm

As we approach the time when the debt limit, and the lack of agreement between the two parties in Congress, will force the Government to miss payments, Congress does have an obligation to raise the debt limit or remove it entirely. But, Treasury Secretary Lew and the President need to acknowledge that there are things they can do too to avoid a default on the public debt, apart from either reminding Congresspeople of their responsibility, or giving into Republican demands.

The Five Worst Reasons Why the National Debt Should Matter To You: Part Two, the Record Since 1930

By: Sunday August 25, 2013 6:40 pm

In Part One, of a critique of the most important of “Fix the Debt’s” reasons for “Why the National Debt Should Matter To You,” I asserted that high debt levels haven’t caused high unemployment in the United States, and that, if anything causation was in the other direction. I didn’t want to disturb the flow of the argument there with a relatively lengthy survey of some of the numbers in the historical record since the 1930s. But let’s test the idea that High debt causes fewer jobs and lower wages in the United States by looking at that record now.

The Five Worst Reasons Why the National Debt Should Matter To You: Part One, High Debt Levels and Jobs

By: Saturday August 24, 2013 4:00 pm

I came across a post from the “Fix the Debt” campaign last month called “The Top Five Worst Reasons Why the National Debt Should Matter to You.” It’s a post full of debt/deficit lies that cry out for correction. That’s what I’ll provide in this series.

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