With increasingly grave warnings of doom they try to make us believe that we are facing a national crisis that must be met with a bipartisan solution that will be impervious to the inevitable protests that will arise from most people when their solution causes suffering — as it inevitably will, since as MMT shows, deficit reduction and government surpluses, in the presence of trade deficits, and desires to save in the private sector will inevitably cause destruction of private sector financial assets. Since the elites are in a better position to protect their financial assets than other Americans, the burden of austerity and the resulting hardships and fatalities will inevitably fall on most of us.
|By: letsgetitdone Friday October 19, 2012 8:15 am|
During the run-up to passage of the Affordable Care Act (ACA), I wrote a number of posts (here, here, and here) assessing the ACA very negatively, and pointing out the shortcomings of the various versions of this bill, preceding its final passage. My focus was on contrasting varying versions with HR 676, the Conyers-Kucinich Medicare for All bill, in relation to its likely impact on fatalities, bankruptcies and divorces attributed to lack of health insurance coverage in the US.
|By: Dean Baker Monday August 13, 2012 11:15 am|
Governor Romney’s decision to select Paul Ryan as his running mate has condemned the country to 90 days of ridiculous news stories and columns about a choice on the size and role of government. The debate is silly because its explicit assumption is that Paul Ryan wants a small role for government. It is flatly wrong to describe Mr. Ryan as a supporter of small government. He is more accurately described as an opponent of government interventions that redistribute income downward and a supporter of government policies that redistribute income upward.
|By: Jon Jeter Sunday April 24, 2011 1:59 pm|
What makes Ha-Joon Chang’s new book, 23 Things They Don’t Tell You About Capitalism, such a joy to read, is not the challenge it poses to the bad economics that undergirds global finance, though it does precisely that. Just as Thomas did nearly 40 years ago, Chang’s book succeeds, fundamentally, because it challenges the dead language that is used to market as progress our growing political discontent.
|By: Jon Walker Monday February 21, 2011 7:15 pm|
With states across the country facing serious budget deficits, it is important to remember our country’s tough marijuana laws aren’t just unnecessarily cruel to people who break them, but they are also devastating to our states’ budgets.
In Oklahoma, we have a mom who got sentenced to ten years in prison for a $31 pot sale.
|By: Dean Baker Sunday September 12, 2010 8:30 am|
George Will threw some ill-informed mud at President Obama’s economic agenda this morning. Fortunately for Will, his pieces run in the fact-free zone of the Washington Post.
|By: Dean Baker Friday August 27, 2010 7:00 am|
Alan Simpson is just the most visible of the deficit hawks who don’t have a clue about the issues they are discussing.
|By: Dean Baker Thursday August 26, 2010 7:45 am|
Senator Simpson is not just sexist and rude, he seems to know next to nothing about Social Security. Even worse, he shows no interest in learning.
|By: Dean Baker Wednesday August 25, 2010 2:45 pm|
The country is suffering from an unemployment crisis caused by the collapse of the housing bubble. However, we are being told that we have a deficit crisis and therefore have to cut Social Security, which is not even part of the budget.
|By: Dean Baker Wednesday August 11, 2010 1:29 pm|
The Washington Post is complaining about the “maddening strategy” of Social Security supporters in an editorial that may lead readers to believe they have gone off the deep end.