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.


FDL Book Salon Welcomes Mark Blyth, Austerity: History of a Dangerous Idea

By: Sunday August 18, 2013 1:59 pm

By now, it’s been thoroughly proven by events that austerity policies backfire. Cut public spending in a deep downturn, and you only worsen the slump. Europe is the more extreme version of the proof, but even the United States, which is technically out of recession, faces a needlessly slow recovery. We’ve reduced deficits by slashing spending, raising taxes, and making sequester deals, but the supposed reward in the form of restored business confidence never arrives. Austerity, as Mark Blyth writes, neither restores growth not reduces the debt ratio, because slow growth (and in some cases negative growth) makes the debt loom that much larger.

Five Big Opportunities on the Economy Obama Missed

By: Monday September 24, 2012 1:35 pm

The reality is that if you believe in Keynesian economics, as President Obama at least at one point clearly did, then you must conclude that Obama made several costly mistakes that significantly hurt the economy. Below are just five of the bigger ones.

Issues With State Control of Medicaid Are Not Going Away

By: Wednesday July 11, 2012 1:05 pm

Currently several Republican governors are threatening not to take part in the Medicaid expansion, which has become an optional part of the Affordable Care Act. Even if you share the optimism of people like Peter Orzag, who claims all states will eventual adopt the expansion because federal funding will end up being too good of a deal to refuse, that will not change the fact that, long term, having states manage and fund a large part of Medicaid will become a larger and larger problem.

There Are Sound Economic Reasons to Federalize Medicaid

By: Tuesday July 3, 2012 9:14 am

With the Supreme Court ruling that states have the option to opt-out of the Affordable Care Act’s Medicaid expansion and several Republican governor already saying they will opt-out, now is a good time to push for fully federalizing the program. Common sense economics argues for federal funding, because it can deal with the need for more funding during economic down turns.

With Economic Pessimism Rising, Americans Move Towards Keynesianism

By: Friday August 26, 2011 9:30 am

As more signs indicate the economy has stalled and unemployment is likely to remain way too high for years to come, the American people are moving towards prioritizing spending to create jobs over deficit reduction.

Obama Delivers Mixed Messages on Deficits and Spending (with Worse than Mixed Results)

By: Monday December 6, 2010 3:30 pm

After months of actively signaling weakness on extending the Bush tax cuts for the rich, President Obama is about to reach a “compromise.” According to reports, it sounds like the compromise with be a temporary extension of the Bush tax cuts for all, a year-long extension of unemployment insurance, and an extension of some of [...]

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