Academia remains incredulous as evidence accumulates that the Reinhart-Rogoff paper that underwrote much of the intellectual justification for austerity economics omitted important data and contained severe Excel errors. Some are calling it a technical knockout of austerity economics, handing victory to the anti-austerity faction of economists.
|By: DSWright Friday April 26, 2013 11:15 am|
|By: DSWright Thursday April 4, 2013 6:55 am|
There are many explanations for why America is more right-wing than other countries in the developed world; an individualistic and unsympathetic political culture, the use of religion for reactionary causes, racial antagonism and division in the working class, a governmental structure designed to defend a commercial oligarchy – take your pick. But just because the Right has been more successful in America than elsewhere does not mean the political spectrum can be totally redefined under right-wing terms.
Yet that is exactly what the New York Times did.
|By: Jon Walker Friday March 22, 2013 1:25 pm|
While you might not think it from watching cable news the reality is that the American people overwhelmingly believe protecting Medicare and Social Security benefits is more important than deficit reduction. According to Pew Research, 55 percent think keeping Medicare and Social Security is more important than reducing the deficit.
|By: Jon Walker Thursday February 28, 2013 9:40 am|
One of the big reasons that deficit hysteria gripped Washington for years despite dozens of more pressing issues is that Pete Peterson has spent the GDP of a small country propping it up. According to Joshua Green, Peterson spent half a billion on this current deficit push and plans to spend a half billion more.
|By: Jane Hamsher Tuesday January 1, 2013 5:05 am|
There is some joy to be taken in the fact that nobody was able to harpoon the elusive white whale of Social Security, Medicare and Medicaid, and that somewhere Pete Peterson weeps.
But we are, as the HuffPo notes, in a permanent state of “cliff crisis” now. Timothy Geithner says the debt limit has once again been reached, and Peterson can take solace in the fact that Obama’s resolve not to negotiate with Republicans over the debt ceiling is indeed just as strong as his commitment not to negotiate over taxes for the rich.
|By: Dean Baker Monday December 24, 2012 11:43 am|
Fareed Zakaria is very unhappy that “The American Left,” by whom he means the vast majority of people across the political spectrum who oppose cuts to Social Security and Medicare, insist on taking arithmetic seriously. They are refusing to join Peter Peterson and his wealthy friends in the Campaign to Fix the Debt in their crusade to cut these key social insurance programs.
|By: dakine01 Thursday December 13, 2012 5:00 pm|
Of course, everyone that was on that show this morning (it included Harold Ford, Steven Rattner, Michael Steele, Disco Dave, Tweety, and Chuck Todd) as well as everyone on all the various talking head shows watched by the Beltway Village Idiots Courtiers are people who will never have to worry about living on Social Security as the only thing keeping them from poverty and homelessness, so they are all fine with most any and all changes being discussed. After all, they are all Very Serious People, often wrong but never in doubt. Why, we could almost call them all “economists” they are wrong so often.
|By: masaccio Sunday November 18, 2012 11:00 am|
Obama says you are morally obligated to pay the debts incurred to benefit the hyper-rich. Rich people fire workers because their candidate lost an election. Which is the more immoral?
|By: David Dayen Thursday October 4, 2012 10:36 am|
Charlie Pierce’s big line about the debate mirrored my thoughts about how the discourse has been so narrowed by a combination of DC establishment insulation from the actual problems of ordinary Americans, and Democrats becoming the face of New Austerity.
|By: David Dayen Wednesday October 3, 2012 11:15 am|
Jared Bernstein of the Center on Budget and Policy Priorities has an important piece that reinforces something I’ve been saying for a long time. Contrary to the opinion of Michael Grunwald that there has been no austerity in Obama’s first term, Bernstein lays out the numbers that actually shows the austerity, in both the short- and long-term, that actually encompasses most of what deficit scolds seek in their grand bargain.
And this is actually a bad idea,.