Pentagon Finances Still ‘Unauditable’

By: Thursday May 15, 2014 1:30 pm

Though we live in the age of austerity, at least concerning the 99%, the Department of Defense gets around $600 billion a year. More funds than any other military in the world. More funds than the next ten highest spending countries combined.

So what happens to all that money once it enters the Pentagon?


Seth Rogen Testifies on Alzheimer’s to Senate, Calls Out Senators Who Skipped His Testimony

By: Sunday March 2, 2014 3:00 pm

Comedian and actor Seth Rogen presented a heartfelt and personal plea for Alzheimer’s research before a Senate hearing Wednesday.  The actor’s mother-in-law suffers from the disease and in his brief remarks he tackled the stigma associated with the disease, as well as the lack of funding and support for families who are trying to cope.  [...]

FDL Book Salon Welcomes L. Randall Wray, Modern Money Theory: A Primer on Macroeconomics for Sovereign Monetary Systems

By: Saturday January 5, 2013 1:59 pm

I am hosting the Firedoglake discussion of my colleague Randy Wray’s new “Primer” on macroeconomics. Macroeconomics is the study of the overall economy – economic growth, recessions, depressions, inflation, unemployment, and employment are big issues that macroeconomics studies. The key policies it addresses are usually divided into fiscal (tax and spending) and monetary policies (the growth of the money supply and setting interest rates).

The concept of monetary tools has broadened as we have seen the Federal Reserve change what had been a severely constrained “lender of last resort” function of the central bank into the most massive bailout program in history. Similarly, the central bank’s interest rate setting function that was long focused on short-term rates has expanded into large experiments that attempt to lower long-term interest rates (“quantitative easing”).

Ike’s Nightmare

By: Tuesday January 17, 2012 4:42 pm

Fifty-one years ago today, President Dwight D. Eisenhower issued his final, prescient warning about the rising power of the military industrial complex. More than half a century later, we find ourselves in a political system which has ignored Eisenhower’s sound advice as the influence of the war industry on our society reaches a crescendo. Nowhere is this “disastrous rise of misplaced power” more apparent than in the debate about the Pentagon budget taking place in Washington, D.C.

David Brooks Is Upset at Liberals Who Insist on Applying Arithmetic to Economics

By: Tuesday September 27, 2011 12:00 pm

David Brooks is really upset: We may have a lost decade because he is sitting there being right, standing in the middle, and the two extremes who control public debate won’t agree with him. But one side did the math, the other didn’t, and neither did Brooks.

Late Night: The Invisible Mongoose

By: Monday March 28, 2011 8:00 pm

We can cure war, famine, pestilence and death with one decade of fair income taxes from GE. Suspending our wars will provide enough funds to make our schools palaces. We could feed hundreds of people for what we spend on just one day of dropping bombs on other countries in the name of peace.

We do have a choice. We don’t have to declare the majority of the conversation off limits and then fight over the few political scraps that are left. We just have to admit that the snakes are invisible and so is the mongoose.

MSNBC Flunks Remedial Math on Debt Ceiling

By: Thursday January 6, 2011 5:20 pm

Earth to MSNBC executives: your anchor, your reporter, and your editors do not know what they’re talking about. They just badly misinformed your viewers.

The “debt ceiling” is a limit on debt, not spending. The “ceiling” is an artificial limit set by Congress; it can be raised, even repealed, with zero harm to the Republic. There is no intrinsic reason why the US cannot raise its level of debt above current levels. There are, however, many reasons why it should raise this arbitrary limit to avoid serious harm to the credit of the United States. Your report explained none of them.

Bond Vigilante Justice

By: Tuesday December 7, 2010 6:01 pm

The bond vigilantes have spoken at last!

No Time for Hawks

By: Sunday July 11, 2010 1:15 pm

News media need to present the facts that will reveal the falsity of arguments by “deficit hawks” who oppose the spending needed to end the recession.

Stimulus Scenarios: Size, Composition, and Jobs

By: Sunday February 8, 2009 9:32 am

Presentation of 6 stimulus scenarios and their job creation potentials

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