Larry Summers may be smart but he isn’t an intellectual.
|By: Dean Baker Friday February 1, 2013 6:52 am|
Most people know that the deficit whiners live largely in a fact free zone, but every now and then it is worth trying to throw a few in their direction in the quest for intelligent life. The immediate motivation is Joe Scarborough’s latest tirade after having Paul Krugman as a guest on his show.
|By: DSWright Monday December 24, 2012 10:25 am|
While many former homeowners will be spending the holidays in the streets, it is good to know the bailed out banks are making some nice profits… off the American taxpayer. Fed Chairman Bernanke’s continual leveraging of the national credit card via buying mortgage-backed securities to stimulate the mortgage market has done little for the mortgage market and a lot for Wall Street’s bottom line.
|By: David Dayen Thursday December 20, 2012 6:38 am|
John Boehner may not even have the votes for today’s “Plan B,” a bill that effectively raises taxes on people making over $1 million a year. He was seen gladhanding on the House floor last night, whipping votes for his side. He can only lose 24 votes to reach 217 (there are a couple vacancies right now), on the expectation that he’ll get no help at all from the other side. It’s probably a heavy lift; even with Grover Norquist’s blessing, Boehner wants his GOP colleagues to walk the plank on a tax increase bill without any hope of it becoming law, just so they can go back and pass another bill that does the same thing.
A look at the bill’s particulars, however, actually inverts expectations.
|By: David Dayen Tuesday December 18, 2012 6:54 am|
The headlines here is that the Obama Administration narrowed the demand they maintained for four years, for tax rates to increase above $250,000, and they would agree to a benefit cut for Social Security and $400 billion in unspecified Medicare cuts, and in exchange they would mostly extend current law on a few fronts (but not all) and get an unspecified amount, no more than $50 billion, in infrastructure spending.
|By: David Dayen Wednesday December 12, 2012 8:21 am|
I think the White House added the corporate tax piece into the negotiations so that they could get business groups to pressure Boehner on the other points, especially raising individual tax rates. John Engler of the Business Roundtable dutifully carried that out yesterday.
|By: David Dayen Thursday November 29, 2012 4:48 pm|
In the context of doing a deficit reduction deal at all, this is an extremely strong bid that Tim Geithner delivered to John Boehner today. Now we know why Boehner whined and cried all afternoon.
Let’s walk through it.
|By: David Dayen Thursday November 29, 2012 9:29 am|
Politico’s VanDeAllen team have a exclusive inside must-credit-Politico rundown of the fiscal cliff talks that merely recycles known information and makes a bunch of guesses.
|By: David Dayen Tuesday November 27, 2012 4:16 pm|
Sen. Dick Durbin (D-IL), who has almost become the liaison to the left for cuts to federal health care programs in the grand bargain, gave a speech today at the Center for American Progress that included a couple important points…