FDL Book Salon Welcomes Dean Baker, Getting Back To Full Employment: A Better Bargain for Working People

By: Sunday January 19, 2014 1:59 pm

In 2009 there was the Keynesian moment. With the economy shedding hundreds of thousands of jobs a month, with the financial system imploding and GDP crashing, the US government stepped in with a stimulus bill designed to get spending started, to boost the states, and to invest for the long-term. At a spending level nowhere near the challenged, President Obama still managed to oversell what it would deliver. By 2010, with unemployment still high, Democrats would silently walk away from the entire endeavour.

This lead to the counter-Keynesian assault of 2011-2012, politically lead by the Tea Party in Congress.


Promises for America

By: Saturday September 22, 2012 12:45 pm

The polling since the conventions shows that Democrats are doing better than expected. President Obama now apparently has a clear lead over Mitt Romney. Democratic Party control of the Senate seems likely to survive this election year of many more Democratic rather than Republican Senate seats up for election. And, even in House races, it looks like the Democrats will pick up a number of seats; though whether they can pick up enough seats to take back the House is still an unlikely prospect, and without the House President Obama’s second term is likely to be much like his last year and three-quarters, rather than his first two years.

No Plan B?

By: Thursday September 13, 2012 6:45 am

Bob Woodward’s releasing a new book, so we are now seeing articles based on it. A few days back, The Washington Post published the ”Inside story of Obama’s struggle to keep Congress from controlling outcome of debt ceiling crisis.” This account is a pretty downbeat one of how our political leaders and President Obama handled the debt ceiling crisis of the summer of 2011. I want to comment on what for me was the most salient point: that during the crisis, the President had no “Plan B” to get around the debt ceiling beyond negotiating a deal with Congress.

Ryan’s Follies: A Crushing Burden of Public Debt

By: Sunday August 12, 2012 7:40 am

In celebration of Paul Ryan’s nomination, and in consideration of his reputation among Washington, DC villagers as a fiscal guru, I thought it might be fun to do a series of posts, of which this is the first, critiquing examples of Ryan’s past wisdom. Here’s the first example:

”We face a crushing burden of debt. The debt will soon eclipse our entire economy, and grow to catastrophic levels in the years ahead.”

Things Will Get Worse Before They’ll Get Better

By: Sunday August 5, 2012 4:00 pm

We are nearly four years into the crash now, and real unemployment rates are approaching depression levels. Working Americans could well lose a decade, as Paul Krugman has been warning, before this is over. And if Americans don’t rouse themselves to either take over or destroy both these sorry excuses for political parties over the next four years or so, we could be looking at a longer period of blight than that.

FDL Book Salon Welcomes Paul Krugman, End This Depression Now!

By: Saturday May 19, 2012 1:59 pm

It is an honor and a pleasure to have Paul Krugman at the Lake this afternoon for a conversation on End This Depression Now! Dedicated “To the unemployed, who deserve better,” the book is a condemnation of the policies and mind-set that have produced the worst economic depression since the 1930s. And unlike the Great Depression, which contemporaries did not understand, we know what to do; the current depression is entirely self-inflicted. The broken homes and ruined lives are not attributable to acts of God or the inscrutable logic of the market, but are the direct consequence of public decisions that have amplified the inherent risk of private credit by deregulating financial operations and the attempt to balance the budget when aggregate private demand is collapsing. The central message is that none of this suffering is necessary, and none of it is justified.

Newt Gingrich: the Great Deficit Creator

By: Tuesday December 13, 2011 11:00 am

A report today reminds us Newt Gingrich was responsible for securing passage of the huge unpaid for Medicare Drug Act of 2003 that added hundreds of billions to federal debt. Now he’s proposing a massive tax cut that would reward the rich and create over a trillion dollars in annual deficits.

Pay No Attention to the World Behind the Curtain

By: Tuesday June 7, 2011 6:01 pm

Bruce Bartlett is the latest to point out that all the conservative demagoguery about America’s crushing, business-destroying tax burden is completely devoid of any context in time or space. Our actual tax revenues are very low both chronologically and geographically.

Jared Bernstein’s Advice to Joe Biden: Focus on Jobs, Not on Deficits

By: Friday June 3, 2011 2:00 pm

In a world supposedly governed by 11 dimensional chess, we find unusually straight forward advice directed at the Obama Administration on how to react to the dismal unemployment numbers.

FDL Member Town Hall with Alan Grayson Next Wednesday, 6/1

By: Friday May 27, 2011 11:46 am

Rep. Grayson will be offering a presentation on how the mal-distribution of income and wealth have caused the chronic federal deficit, which has led to a series of bubbles, crashes, and other structural economic problems. He will also address how progressive action is necessary in order to fix the problem.

If you’re not an FDL member, and you’d like to join, you can do that here.

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